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Is This The Best Time To Buy Lithium Americas Corp. (NYSE: LAC) Stock?

Lithium Americas Corp. (NYSE:LAC) traded at $21.38 at last check on Tuesday, 01/24/23, made a downward move of -2.49% on its previous day’s price.

Looking at the stock we see that its previous close was $21.92 and the beta (5Y monthly) reads 1.51 with the day’s price range being $21.10 – $22.20. In terms of its 52-week price range, LAC has a high of $40.39 and a low of $17.58. The company’s stock has gained about 3.89% over that past 30 days.

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Lithium Americas Corp. has a market cap of $2.84 billion and is expected to release its quarterly earnings report on Mar 15, 2023 – Mar 20, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.23, with the EPS growth for the year raised at -$0.85 for 2022 and $0.9 for next year. These figures represent -84.80% and 205.90% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the LAC stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 15 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 1 have rated the Lithium Americas Corp. (LAC) stock as a Hold, while 14 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 8.16% off its SMA20 and -5.02% from its 50-day simple moving average. The RSI (14) is pointing at 53.22 while the volatility over the past week is 4.51% and jumps to 4.96% over the past one month. The beta value is 1.45, while the average true range (ATR) is currently pointing at 1.04. The average price target for the stock over the next 12 months is $36.76, with the estimates having a low of $30.00 and a high of $42.50. These price ends are -40.32% and -98.78% off the today’s price level respectively, although investors could be excited at the prospect of a -71.94% if the LAC share price touches on the median price of $36.76.

Coming back to Lithium Americas Corp. (NYSE:LAC), we note that the average 3-month trading volume was 2.03 million, while that of the preceding 10-day period stands at 2.33 million. Current shares outstanding are 134.68 million.

The insiders hold 16.38% of the company’s shares while institutions hold 24.10%. The data shows that short shares as of Dec 29, 2022, stood at 10.25 million at a short ratio of 5.84. This represents a 7.60% short interest in shares outstanding on Dec 29, 2022. Shares short rose in December from the previous month at 9.23 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock 15.67% up in year-to-date price movement.

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