LAC

In the past six months (March-September 2026), Lithium Americas reported Q1 and Q2 2026 results, with equity programs in both quarters diluting shareholders. General and administrative expenses increased in Q2 2026 due to Thacker Pass project advancement. The company received its third advance on a $2.23 billion DOE loan, totaling $342 million, bringing cumulative advances to $1.209 billion, fully funding Phase 1 of Thacker Pass along with investments from GM and Orion. Capital expenditure guidance for Thacker Pass Phase 1 is $1.3 billion to $1.6 billion, with mechanical completion targeted for late 2027. Despite a 45% increase in global lithium consumption, the market experienced significant price volatility, with analysts forecasting a 'pronounced slide' in Chinese lithium carbonate prices. BMO Capital lowered its 12-month price target for LAC from $4.50 to $4.00, and the stock price declined by 13.33% from September 2025 to September 2026, reaching $2.86 per share.