Lithium Americas Corp. (NYSE:LAC) (TSE:LAC), a leader in the lithium industry, announced the completion of its reorganization, creating two separate, publicly-traded companies — Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp., known as Lithium Americas (NewCo).
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Today, both companies started trading on the Toronto Stock Exchange and New York Stock Exchange under the ticker symbols “LAAC” and “LAC,” respectively. This strategic split offers investors a fresh opportunity to invest in the lithium market, which has been a popular investment choice because lithium is a vital material for electric vehicles (EVs).
John Kanellitsas, Executive Chairman, President, and Interim CEO of Lithium Argentina, emphasized that this separation is a noteworthy achievement, allowing each company to focus on distinctive growth opportunities within the lithium industry.
Lithium Americas Argentina has a ~45% stake in the Cauchari-Olaroz brine asset in Argentina and owns other deposits. This company initiated lithium production from its Cauchari-Olaroz asset in June. On the other hand, Lithium Americas (NewCo) will focus on its Thacker Pass asset in Nevada, aiming to start lithium production by 2026.
Is LAC Stock a Buy, According to Analysts?
According to analysts, LAC stock comes in as a Strong Buy based on six unanimous Buy ratings assigned in the past three months. The average LAC stock price target of C$40.67 implies 156% upside potential.
If you’re wondering which analyst you should follow if you want to buy and sell LAC stock, the most accurate analyst covering the stock (on a one-year timeframe) is Puneet Singh of Eight Capital, with an average return of 75.85% per rating and an 83% success rate. Click on the image below to learn more.
