A share price of Lithium Americas Corp (NewCo) [LAC] is currently trading at $2.84, down -0.70%. An important factor to consider is whether the stock is rising or falling in short-term value. The LAC shares have gain 2.90% over the last week, with a monthly amount glided 1.07%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Lithium Americas Corp (NewCo) [NYSE: LAC] stock has seen the most recent analyst activity on March 18, 2024, when Scotiabank downgraded its rating to a Sector Perform and also revised its price target to $7 from $15. Previously, JP Morgan started tracking the stock with Neutral rating on December 11, 2023, and set its price target to $7. On November 15, 2023, National Bank Financial initiated with a Outperform rating. Canaccord Genuity started tracking the stock assigning a Speculative Buy rating. Deutsche Bank downgraded its rating to a Hold and reduced its price target to $7 on October 18, 2023. B. Riley Securities started tracking with a Buy rating for this stock on October 16, 2023, and assigned it a price target of $14. In a note dated October 05, 2023, Stifel initiated an Buy rating and provided a target price of $15 on this stock.
Lithium Americas Corp (NewCo) experienced fluctuations in its stock price throughout the past year between $2.49 and $12.38. Currently, Wall Street analysts expect the stock to reach $29.54 within the next 12 months. Lithium Americas Corp (NewCo) [NYSE: LAC] shares were valued at $2.84 at the most recent close of the market. An investor can expect a potential return of 940.14% based on the average LAC price forecast.
Analyzing the LAC fundamentals
Gross Profit Margin for this corporation currently stands at 0.13% with Operating Profit Margin at -287.64%, Pretax Profit Margin comes in at 238.58%, and Net Profit Margin reading is 238.56%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.02 and Total Capital is -0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.78 points at the first support level, and at 2.71 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.90, and for the 2nd resistance point, it is at 2.95.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Lithium Americas Corp (NewCo) [NYSE:LAC] is 6.94. On the other hand, the Quick Ratio is 6.94, and the Cash Ratio is 6.67.
