A share price of Lithium Americas Corp (NewCo) [LAC] is currently trading at $2.66, down -2.21%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The LAC shares have gain 16.16% over the last week, with a monthly amount glided 4.72%, 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 July 29, 2024, when Piper Sandler initiated its Neutral rating and assigned the stock a price target of $3.90. Previously, Scotiabank downgraded its rating to Sector Perform on March 18, 2024, and dropped its price target to $7. On December 11, 2023, JP Morgan initiated with a Neutral rating and assigned a price target of $7 on the stock. National Bank Financial started tracking the stock assigning a Outperform rating. Canaccord Genuity initiated its recommendation with a Speculative Buy. Deutsche Bank downgraded its rating to Hold for this stock on October 18, 2023, and downed its price target to $7. In a note dated October 16, 2023, B. Riley Securities initiated an Buy rating and provided a target price of $14 on this stock.
Lithium Americas Corp (NewCo) experienced fluctuations in its stock price throughout the past year between $2.02 and $12.38. Currently, Wall Street analysts expect the stock to reach $23.02 within the next 12 months. Lithium Americas Corp (NewCo) [NYSE: LAC] shares were valued at $2.66 at the most recent close of the market. An investor can expect a potential return of 765.41% based on the average LAC price forecast.
Analyzing the LAC fundamentals
Gross Profit Margin for this corporation currently stands at -1.35% with Operating Profit Margin at -377.28%, Pretax Profit Margin comes in at -363.49%, and Net Profit Margin reading is -363.51%. To continue investigating profitability, this company’s Return on Assets is posted at -0.03, Equity is -0.04 and Total Capital is -0.03. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.0.
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 2.59 points at the first support level, and at 2.52 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.77, and for the 2nd resistance point, it is at 2.87.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Lithium Americas Corp (NewCo) [NYSE:LAC] is 20.14. As well, the Quick Ratio is 20.14, while the Cash Ratio is 19.69.
