Lithium Americas jumps after US government takes stake in co

Lithium Americas

01/10/2025 14:45

Updates

** Shares of Lithium Americas LAC.TO jump 23% to C$9.78

** LAC says U.S. Department of Energy (DOE) has taken a 5% in co and a separate 5% stake in its Thacker Pass lithium project joint venture with General Motors GM.N

** A 5% stake will make the DOE the third largest shareholder in the co, according to LSEG data

** "LAC has a limited window to max out its ATM over the coming days, which would ever-so-slightly improve deal dilution vs. expectation" - Scotiabank

** Three of 10 brokerages rate LAC "buy" or higher, seven "hold"; median PT is $4.75- data compiled by LSEG

** Including session's moves, stock up ~125% YTD

 (Reporting by Avinash P and Dharna Bafna in Bengaluru)

 ((Avinash.P@thomsonreuters.com;))