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LAAC

Lithium Americas (Argentina) Corp.

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Industrial Materials

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; and Pastos Grandes project located in the Salta province of Argentina. Lithium Americas (Argentina) Corp. is headquartered in Vancouver, Canada.

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Ganfeng Lithium agrees to acquire a 15% interest in PGCo, a subsidiary of Lithium Argentina (LAAC), for $70M. The investment will support the development of the Pastos Grandes Basin with a focus on utilizing Ganfeng's DLE technology. The deal, expected to close in Q2 2024, aims to enhance LAAC's balance sheet and foster the global lithium supply chain.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 2:29 pm

Lithium Americas (Argentina) Corp. (NYSE:LAAC) announced the appointment of Sam Pigott as the new President and CEO, effective March 18, 2024. Pigott, succeeding John Kanellitsas, brings extensive experience from his roles in Ganfeng Lithium and as Chairman of the Shareholder Committee at Minera Exar. His appointment is seen as a strategic move to lead Lithium Argentina through its next phase of growth, particularly with the Caucharí-Olaroz project.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 9:29 pm

Wall Street analysts have updated their price targets and ratings for several companies. Keybanc reduced EOG Resources' target but maintained an Overweight rating. BMO Capital raised Southern Company's target and upgraded to Outperform. Baird increased Salesforce's target and upgraded to Outperform. Barclays raised Chewy's target and upgraded to Overweight, predicting over 50% rally. Wells Fargo lifted Willis Towers Watson's target and upgraded to Overweight. Deutsche Bank lowered Albemarle's target and downgraded to Hold. Jefferies raised Juniper Networks' target but downgraded to Hold. Goldman Sachs upped Lyft's target but downgraded to Neutral. Keybanc cut Diamondback Energy's target but kept an Overweight rating. Deutsche Bank reduced Lithium Americas' target and downgraded to Hold.

Portfolio Pulse from Avi Kapoor

January 11, 2024 | 12:45 pm

Deutsche Bank analyst Corinne Blanchard has downgraded Lithium Americas from Buy to Hold and reduced the price target from $9 to $6.5.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:12 pm

Lithium Americas (Argentina) Corp. announced its 2023 production results for the Caucharí-Olaroz lithium project, surpassing guidance with approximately 6,000 tonnes of lithium carbonate produced. The plant is operating at 50% capacity, with the KCl plant ramping up. The company will report year-end financial results on March 21, 2024, and host a conference call on March 22, 2024. The project has been shipping lithium since October and is nearing battery-quality production.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:06 pm

Lithium Americas Corp (LAC) is progressing with its Thacker Pass project, which is the largest U.S. lithium source, with production starting in 2026. Despite a key partnership with General Motors (GM) and support from the Department of Energy, LAC's stock has been underperforming, trading between $6.5 to $7.5 without signs of momentum. JPMorgan initiated coverage with a neutral rating and a target price of $7. Post-reorganization, Lithium Americas (Argentina) Corp (LAAC) is seen as having less uncertainty and more potential for medium-term returns.

Portfolio Pulse from Surbhi Jain

December 12, 2023 | 3:37 pm

Lithium Americas (Argentina) Corp (NYSE:LAAC) is gaining attention as a strategic investment in the lithium sector following its split from Lithium Americas Corp. (NYSE:LAC). LAAC's Caucharí-Olaroz project is near completion, with 95% of capital deployed, and is expected to start generating revenue by mid-2023. In contrast, LAC faces high-interest rates and won't start production at Thacker Pass until 2026. LAAC's first quarterly report post-split showed a net income of $6.6 million, indicating financial resilience despite a recent drop in lithium carbonate prices. The company's partnership with China's Ganfeng Lithium Group (OTCPK:GNENF) adds geopolitical complexity.

Portfolio Pulse from Surbhi Jain

November 22, 2023 | 4:21 pm

Lithium Americas (NYSE:LAAC) has received 5 analyst ratings in the last quarter, with 2 bullish and 3 indifferent. The average 12-month price target for LAAC is $10.8, up 44% from the previous target of $7.50. The high target is $18.50 and the low is $7.00. Analyst ratings are based on financial predictions and are updated quarterly or after major company events.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 7:00 pm

BMO Capital analyst Joel Jackson has maintained a Market Perform rating on Lithium Americas (NYSE:LAAC) but has reduced the price target from $7.5 to $7.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 6:20 pm

Lithium Americas Corp. (LAC) has provided an update on its Thacker Pass lithium project, including Q3 2023 financials. The company had approximately $275.5M in cash and cash equivalents as of October 3, 2023. Major earthworks and detailed engineering continue to advance in preparation for major construction to commence in 2024. The company is also in negotiations with the U.S. Department of Energy for the Advanced Technology Vehicles Manufacturing Loan Program, which could fund up to 75% of capital costs for construction of Phase 1. The construction budget for the second half of 2023 is $145 million, of which $51.1 million was spent in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 12:02 am

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