US-listed shares of Lithium Americas jump after US government takes stake in co

Lithium Americas

01/10/2025 09:41

** U.S.-listed shares of Lithium Americas LAC.N LAC.TO jump 33% to $7.62 premarket

** 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

** The total deal value has not been disclosed

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

** The deal is the latest private sector investment made by President Trump's administration following Intel INTC.O and MP Materials MP.N

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

** Up to last close, stock was up more than 92% YTD

 (Reporting by Avinash P in Bengaluru)

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