Weakness in lithium stocks, like Lithium Americas (LAC) is proving to be temporary.
Still oversold on RSI, MACD, and Williams’ %R, LAC should continue to benefit from a lithium supply-demand imbalance.
Analysts seem to like the LAC stock, too. Deutsche Bank raised its price target on the stock to $36 from $33, with a buy rating. Piper Sandler also has an overweight rating on the stock with a price target of $38 a share.
In addition, according to a recent press release, the company just confirmed its hearing date of January 5, 2023, for the Thacker Pass decision appeal.
“With all state and federal permits received to begin construction, the ruling on Thacker Pass’ ROD represents the final regulatory hurdle to move forward the largest and most advanced lithium chemicals project in the US,” said Jonathan Evans, President, and CEO. “We stand ready to develop a critical source of lithium supply, creating jobs and enabling a more sustainable battery ecosystem in North America. As we await a ruling by the Federal Court, we are moving ahead with all areas required to support construction, including the final selection of an EPCM contractor, evaluating partnership and supply agreements, as well as progressing our application with the US Department of Energy loan program.”
LAC last traded at $26.09. We’d like to see it back at $32 again, in the near-term.