Lithium Americas Corp.
- Open
- 2.92
- Day high
- 2.92
- Day low
- 2.81
- Prev close
- 2.91
- Volume
- 6.4M
- Mkt cap
- $986M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.7
- P/S
- —
- Yield
- —
- Per share
- —
Lithium Americas Corp. (LAC) is a Basic Materials company listed on NYSE. The stock is down 6% over the past year. Drillr has 2 published research articles covering LAC.
Lithium Americas Corp. (LAC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
LAC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 14, 2026 | $-0.07 | $-0.00 | +98.3% | — | — |
| Mar 23, 2026 | $-0.04 | $-0.37 | -825.0% | — | — |
| Nov 13, 2025 | $-0.05 | $-0.02 | +60.0% | — | — |
| Aug 14, 2025 | $-0.04 | $-0.06 | -50.0% | — | — |
| May 15, 2025 | $-0.04 | $-0.05 | -25.0% | — | — |
| Mar 28, 2025 | $-0.02 | $-0.11 | -450.0% | — | — |
| Aug 13, 2024 | $-0.03 | $-0.05 | -66.7% | $17 | — |
| Mar 15, 2024 | $-0.09 | $-0.07 | +22.2% | — | — |
| Nov 9, 2023 | $-0.05 | $0.04 | +180.0% | — | — |
| May 15, 2023 | $-0.19 | $-0.04 | +78.9% | — | — |
| Mar 31, 2023 | $-0.25 | $-0.19 | +24.0% | — | — |
| Oct 27, 2022 | $-0.24 | $-0.19 | +20.8% | — | — |
LAC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | GAO YUANdirector | Grant | 10,368 | — |
| Jul 8, 2026 | BROWN MICHAEL JOHNdirector | Grant | 12,312 | — |
| Jul 8, 2026 | Walker Clayton D.director | Grant | 6,900 | — |
| Jul 8, 2026 | MONTGOMERY PHILIPdirector | Grant | 8,100 | — |
| Jun 29, 2026 | MONTGOMERY PHILIPdirector | Option | 19,348 | — |
| Jun 17, 2026 | GRANDY EDWARDofficer: Sr VP, GC & Secretary | Tax | 15 | $4.45 |
| Apr 15, 2026 | GAO YUANdirector | Grant | 10,137 | — |
| Apr 15, 2026 | BROWN MICHAEL JOHNdirector | Grant | 12,038 | — |
| Apr 15, 2026 | MAGIE JINHEEdirector | Grant | 7,919 | — |
| Apr 15, 2026 | MONTGOMERY PHILIPdirector | Grant | 7,919 | — |
| Apr 14, 2026 | ZAWADZKI ALEXI ILLYAofficer: VP, Resource Development | Tax | 27,806 | $4.13 |
| Apr 14, 2026 | RUSSELL-SMITH ROBERTofficer: SVP, Finance | Tax | 2,379 | $4.13 |
| Apr 14, 2026 | GRANDY EDWARDofficer: Sr VP, GC & Secretary | Tax | 25,590 | $4.17 |
| Apr 14, 2026 | GRANDY EDWARDofficer: Sr VP, GC & Secretary | Option | 21,218 | — |
| Apr 14, 2026 | GRANDY EDWARDofficer: Sr VP, GC & Secretary | Sell | 6,342 | $4.50 |
Source: LAC SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full LAC insider & 13F page →LAC research & analysis
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Lithium Americas Corp. company profile
Overview
Lithium Americas Corp. (NYSE:LAC) is a Canadian-based resource development company incorporated in 2007 and headquartered in Vancouver. Originally founded as Western Lithium USA Corporation, the company rebranded to its current name in March 2016 to reflect its expanded focus across North and South America. The company operates as a lithium development and production company with strategic assets in Argentina and the United States, positioning itself within the critical minerals sector that supports the global transition to electric vehicles and renewable energy storage.
Business
Lithium Americas operates in the lithium extraction and production industry, which is a specialized segment of the mining and critical minerals sector. The company focuses on developing and operating lithium projects that extract lithium from brine deposits found in salt flats (salars) and hard rock formations. Lithium is a soft, silvery-white alkali metal that has become increasingly valuable due to its essential role in lithium-ion batteries used in electric vehicles, consumer electronics, and grid-scale energy storage systems. The metal is typically extracted either from hard rock spodumene deposits or from lithium-rich brines found in underground aquifers beneath salt flats. The company operates three main projects across two countries: 1. Cauchari-Olaroz Project (Argentina) - Currently the company's only producing asset, located in Jujuy province. This project uses traditional evaporation pond technology to extract lithium carbonate from brine. The facility achieved commercial production in 2024 and represents approximately 100% of current revenue generation, producing lithium carbonate equivalent (LCE) for sale to battery manufacturers and chemical companies. 2. Thacker Pass Project (Nevada, USA) - A large-scale development project in northwestern Nevada that would extract lithium from clay deposits using different processing technology than the Argentine operations. This represents the company's primary growth opportunity in North America. 3. Pastos Grandes Project (Argentina) - Located in Salta province, this is an early-stage exploration and development project that the company is evaluating for potential future production using direct lithium extraction (DLE) technology.
Revenue model
Lithium Americas generates revenue primarily through product sales of lithium carbonate, a white crystalline compound that serves as a key input material for lithium-ion battery cathodes. The company's customers are typically battery manufacturers, chemical companies, and other industrial users who incorporate lithium compounds into their manufacturing processes. The business model centers on long-term offtake agreements where customers commit to purchasing specified quantities of lithium carbonate at predetermined pricing mechanisms, often linked to market indices or negotiated fixed prices. These agreements provide revenue visibility and help secure project financing, though they can also limit upside participation when lithium prices rise significantly. Several factors significantly impact the company's margins and profitability. Lithium commodity prices represent the most critical variable, as they directly influence revenue per ton sold. These prices are driven by global electric vehicle adoption rates, battery technology developments, and supply-demand dynamics in the lithium market. Production costs vary significantly by extraction method and location, with factors including energy costs, chemical reagent prices, labor costs, and regulatory compliance expenses affecting operational margins. Currency fluctuations create additional complexity since the company operates in Argentina (where costs are incurred in Argentine pesos) while selling products in US dollars. Regulatory changes in both Argentina and the United States can impact operational costs, export procedures, and taxation. Weather patterns affect brine-based operations, as evaporation rates depend on precipitation, temperature, and humidity levels. Finally, technological improvements in extraction methods, particularly direct lithium extraction, could reduce operating costs and environmental impact while potentially increasing recovery rates.
Competitive moat
Lithium Americas possesses a moderate but narrowing competitive moat based primarily on resource control and geographic positioning. The company's primary advantage lies in its ownership of large, high-quality lithium brine resources in proven geological formations, particularly the Cauchari-Olaroz project in Argentina's "Lithium Triangle" - a region known for some of the world's highest-grade lithium brine deposits. Resource scarcity provides some protection, as high-quality lithium deposits suitable for economic extraction are geographically concentrated and require significant capital investment to develop. The company's established position in Argentina, where it has navigated local regulatory requirements and built operational infrastructure, creates barriers for new entrants who must duplicate these efforts. However, this moat faces several challenges. Technological disruption from direct lithium extraction (DLE) methods could potentially unlock previously uneconomical deposits, expanding the competitive landscape. Alternative supply sources are emerging globally, including hard rock lithium projects in Australia and North America, recycling operations, and new brine projects in other countries. Commodity price volatility erodes the stability of any competitive advantage, as lithium prices can fluctuate dramatically based on supply-demand imbalances, making even high-quality assets potentially uneconomical during price downturns. The company also faces political and regulatory risks in Argentina, where government policies regarding mining, exports, and foreign investment can change, potentially affecting operational flexibility and profitability. The moat is further weakened by the company's single-asset production profile and dependence on external financing for growth projects, making it vulnerable to capital market conditions and operational disruptions at its primary producing asset.
Risks & safety
The company presents a moderate margin of safety supported by strong liquidity but offset by ongoing cash consumption and development-stage risks. • Liquidity Position: Excellent with $446.6 million in cash and short-term investments as of Q1 2025, providing substantial runway for operations and development activities • Debt Level: Very low debt-to-equity ratio of 0.009, indicating minimal financial leverage and reduced solvency risk • Cash Burn: Significant negative free cash flow of -$118.2 million in Q1 2025, though this includes development capital expenditures; operational cash flow was only -$0.2 million • Current Ratio: Strong at 10.35, indicating excellent short-term liquidity coverage • Valuation Metrics: Trading at 0.95x book value, suggesting potential undervaluation relative to asset base; negative EBITDA makes traditional valuation metrics less meaningful • Revenue Generation: Zero reported revenue in recent quarters despite production from Cauchari-Olaroz, indicating either timing differences in sales recognition or production ramp-up challenges • Other Considerations: Graham net-net ratio of 1.66 suggests trading below liquidation value, though this may reflect market skepticism about asset realizability and development execution risks
Recent development
Based on the available earnings call information, Lithium Americas has focused its recent strategic efforts on ramping up production at the Cauchari-Olaroz project, which achieved commercial production in 2024. The company produced 4,500 tons of lithium carbonate in Q1 2024, representing a 20% increase from the previous quarter, with production targets of 20,000 to 25,000 tons for the full year 2024. The company encountered typical production ramp-up challenges, including reliability issues that required planned maintenance in April 2024 to address equipment problems such as piping leaks and motor seal replacements. Management has prioritized improving product quality, particularly addressing potassium chloride contamination issues to meet battery-grade specifications demanded by customers. Cost reduction initiatives have become a key focus, with management implementing corporate cost reduction programs while pursuing additional long-term debt financing options in Argentina to optimize the capital structure. The company has also been working on consolidating its Argentine operations through the planned closure of the Pastos Grandes transaction, which was expected to complete by the end of Q2 2024. Technology development represents another strategic pillar, with the company investigating Direct Lithium Extraction (DLE) technology for future application at Pastos Grandes. This technology could potentially reduce environmental impact, increase recovery rates, and accelerate production timelines compared to traditional evaporation pond methods. The company is also developing a comprehensive regional development plan for the Pastos Grandes Basin, incorporating lessons learned from the Cauchari-Olaroz project experience.
LAC company profile · for informational purposes only — not investment advice.
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