5 Cheap Lithium Stocks to Buy According to Analysts

This article discusses the 5 Cheap Lithium Stocks to Buy According to Analysts. If you want to get detailed analysis on lithium industry, you can head on to 12 Cheap Lithium Stocks to Buy According to Analysts.

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5. Lithium Americas Corp. (NYSE:LAC)   

Average Price Target Based on Analyst Ratings: 10.94           

Upside Potential as of 21 March: 82.64%

P/E Ratio: 0.65

Lithium Americas Corp. (NYSE:LAC) is placed 7th on our list of 12 Cheap Lithium Stocks to Buy According to Analysts. The highlighting bit about this company is their Thacker Pass project up in Nevada, USA, where things are looking on the rise. The stock has been soaring, gaining 38.3% throughout the last four weeks, closing at $5.99 per share.

Yahoo Finance analysts are giving optimistic remarks as well, with the average price target being $10.94, indicating a remarkable 82.64% upside potentially. Moreover, the American government is supporting the company with a cool $2.26 billion loan in relation to the lithium carbonate processing plant at Thacker Pass. This move will help boost domestic lithium supply for electric vehicles – this marks as the biggest federal investment in a lithium mine so far.

The overall investors’ sentiment looks in favor of the stock, with 9 hedge funds still in the game of this stock, and analysts at Yahoo Finance giving a solid “buy” recommendation for the stock.