5 Cheap Lithium Stocks To Buy According To Analysts

3. Lithium Americas Corp. (NYSE:LAC)

Number of Hedge Fund Holders: 14

Upside Potential: 54.20%

Average Analyst Price Target: $32.52

A total of 14 hedge funds were long Lithium Americas Corp. (NYSE:LAC) in the first quarter. Their total stake value was $47.8 million.

Lithium Americas Corp. (NYSE:LAC) is a diversified metals and mining company. It explores for lithium deposits.

Massif Capital made the following comment about Lithium Americas Corp. (NYSE:LAC) in its first-quarter 2023 investor letter:

“During the first quarter, Lithium Americas Corp. (NYSE:LAC) had several positive events, including a favorable record of decision ruling for Thacker Pass, paving the way for construction of the mine to start, a revised Thacker resource/cost estimates, and GM’s financing/offtake agreement. Even though LAC is non-producing and its stock is down 34% over the past year (compared to the larger lithium producer’s 3%), the stock remains one of our favorites with multiple catalysts (and still up roughly 600% from our initial purchase price):

• Cauchari-Olaroz Stage I first production in sight and Stage II initiation by year-end,
• Substantial earthworks beginning 2H23 at Thacker,
• Growth potential with greater guidance on Pastos Grandes, and
• Formal separation of North American Assets and Argentine assets into separate publicly traded entities

As Cauchari-Olaroz in Argentina and Thacker Pass come online, volumes will effectively be marked at leading-edge pricing. As such, it seems prudent to continue underwriting growth, especially given the firm’s experienced management team with a visible pipeline to incremental supply before 2025. These qualities make one or both post-separation entities attractive buyout targets for numerous suitors…” (Please click here to read the full text)