Lithium Americas Corp

LAC: XTSE (CAN)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	CAD 49.00	Sywv	Tzxwxlgy

Lithium Americas Earnings: Early Construction of First Lithium Project Progressing on Plan

Seth Goldstein

May 13, 2024

We're maintaining our USD 12 fair value estimate for Lithium Americas following the company's first-quarter results. We've trimmed our Canadian dollar-denominated fair value estimate to CAD 16 per share from CAD 17 due to currency movements since our last update. Our no-moat rating is unchanged. At current prices, the shares appear materially undervalued, trading at less than 40% of our fair value estimate and in 5-star territory.

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