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Lithium Americas Corp LAC Stock Quote

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Morningstar‘s Stock Analysis LAC

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Is it the right time to buy or sell?

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No Changes to Our Outlook as Lithium Americas Announces Spinoff Plan; Shares Materially Undervalued

Analyst Note

| Seth Goldstein, CFA |

On Nov. 3, Lithium Americas announced that it plans to separate the company into two distinct businesses based on geography by spinning off its North American assets. After reviewing the deal, we see no reason to change to our forecast. We therefore maintain our fair value estimate $65 (CAD 88) and no-moat rating. At current prices, we view shares of Lithium Americas as severely undervalued, trading more than 60% below our fair value estimate.

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Key Statistics LAC

Company Profile LAC

Business Description

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, We expect the first Argentina resource, Cauchari-Olaroz, to enter production in early 2023. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s. Lithium Americas plans for all three resources to be fully integrated, selling into the lithium chemical market. The company is also exploring separating into two companies, with assets divided by geography, an Argentina company and a U.S. company.

900 West Hastings Street, Suite 300
Vancouver, BC, V6C 1E5, Canada
T +1 778 656-5820
Industry Other Industrial Metals & Mining
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 65