Lithium Americas
Developing Nevada's Thacker Pass lithium mine and processing project.
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Profile
Develops the Thacker Pass lithium mine and processing project in northern Nevada rather than operating a producing mine. Its single-project model is executed through a joint venture with General Motors, with financing, permits, construction and lithium-carbonate processing shaping commercial viability.
Developing rather than operating a lithium mine and processing project, the company is focused on Thacker Pass in northern Nevada. The first development phase is designed to produce battery-quality lithium carbonate, making the business a single-project U.S. developer.
A joint venture with General Motors funds, develops, constructs and will operate Thacker Pass; GM also has an offtake arrangement for the first development phase. The project is the North American business that entered the new issuer through the 2023 separation.
Execution depends on construction timing and costs, partner and project financing, permits and potential litigation, and factors affecting lithium-carbonate processing and commercial viability. The DOE loan places conditions on transfers of project assets and cash from the joint venture.
Company facts
Key statistics
Year to date −35.7% · Average volume (30d) 9.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 14, 2026 | BMO Capital | Reiterate | Market Perform | $5 | $4 | |
| Jul 1, 2026 | Goldman Sachs | Initiate | Neutral | $4.50 | ||
| Jan 12, 2026 | Scotiabank | Reiterate | Sector Perform | $5 | $7 | |
| Nov 13, 2025 | Scotiabank | Upgrade | Sector Underperform | Sector Perform | ||
| Nov 6, 2025 | JP Morgan | Upgrade | Underweight | Neutral |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 13, 2026Q2 FY26 | −$0.04 | −$0.02 | +47.3% | — | — | — | +5.21% |
| May 14, 2026Q1 FY26 | −$0.07 | $0.00 | +98.3% | — | — | — | −2.53% |
| Mar 19, 2026Q4 FY25 | −$0.04 | −$0.37 | −825.0% | — | — | — | −7.48% |
| Nov 13, 2025Q3 FY25 | −$0.05 | −$0.02 | +60.0% | — | — | — | −3.04% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | −$12.0K | −$10.0K | $0 | $0 | $0 | −$230.0K | |
| Operating income | −$6.5M | −$7.8M | −$9.7M | −$28.8M | −$11.1M | −$14.8M | |
| Net income | −$10.7M | −$12.4M | −$197.7M | $98.7M | −$409.0K | $2.1M | |
| Diluted EPS | −$0.05 | −$0.06 | −$0.83 | $0.43 | −$0.00 | $0.01 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $822.8M · Total debt $1.16B · Total assets $3.54B · Shareholders' equity $1.42B
Dividends
No dividends on record.
Ownership
Shares outstanding 223.28M · Float 198.66M · 89.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Orion Resource Partners (USA) LP | 24.27M | 9.99% | 13G | May 15, 2025 |
| Van Eck Associates Corp | 22.73M | 10.18% | 13F | Aug 14, 2026 |
| General Motors Holdings LLC | 15.00M | 6.72% | 13F | Jul 31, 2026 |
| Ganfeng Lithium Group Co., Ltd./ADR | 15.00M | 9.30% | 13G | Oct 16, 2025 |
| Ameriprise Financial Inc | 13.30M | 5.95% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 17, 2025 | Edward Grandy | officer: Sr VP, GC & Secretary | −6,356 | $4.51 |
| Mar 20, 2026 | Michael John Brown | director | +1,000 | $3.78 |
| Nov 14, 2025 | Edward Grandy | officer: Sr VP, GC & Secretary | −6,183 | $4.50 |
| Nov 14, 2025 | Timothy Ambrose Crowley | officer: VP, Gov & External Affairs | −4,763 | $4.50 |
| Nov 14, 2025 | Richard Gerspacher | officer: EVP, Capital Projects | −6,118 | $4.50 |
Peers
- Albemarle
Global lithium producer with an operating Nevada extraction site
- SQM (ADR)
Global lithium producer with Chilean and Australian operations
- Rio Tinto (ADR)
Global miner building a large lithium portfolio through Arcadium
- Lithium Argentina
Lithium-carbonate producer operating Caucharí-Olaroz in Argentina
- ioneer (ADR)
DOE-financed Nevada lithium-boron project nearing construction
- Standard Lithium
U.S. DLE developer targeting battery-quality lithium carbonate
- American Battery Technology
Nevada claystone project targeting lithium hydroxide production
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lithium Americas | $3.09 | +0.82% | $685.5M | — | — | — | — |
| Albemarle | $137.96 | +0.45% | $16.20B | — | 13.9 | 2.7 | +31.1% |
| SQM (ADR) | $78.54 | −0.17% | $22.46B | 16.2 | 9.8 | 3.3 | +136.7% |
| Rio Tinto (ADR) | $103.71 | +0.37% | $167.86B | 13.9 | — | 2.7 | +14.5% |
| Lithium Argentina | $7.12 | +3.57% | $1.13B | — | 17.7 | — | +134.3% |
| ioneer (ADR) | $3.08 | −0.48% | $193.0M | — | — | — | — |
| Standard Lithium | $2.57 | +0.98% | $621.8M | — | — | — | — |
| American Battery Technology | $2.60 | +0.95% | $350.6M | — | — | 21.5 | +697.1% |
| Median | 15.0 | 13.9 | 3.0 | +134.3% |