BMO Capital Affirms Market Perform on Lithium Americas (LAC) amid Thacker Pass Project Progress

Lithium Americas Corp. (NYSE:LAC) is one of the best green energy penny stocks to buy right now. On June 20, BMO Capital reiterated a ‘Market Perform’ rating on the stock and a $3.50 price target. The research firm remains optimistic about the company’s long-term prospects, as the Thacker Pass Project remains on track.

The large lithium mining and processing operation in Nevada is in the early stages of development. Labor requirements are the key risk factor as Lithium Americas must increase staffing to accelerate the Thacker Pass Project development.

Lithium Americas remains optimistic about securing its first Department of Energy load drawdown in the third quarter as part of its partnership with General Motors (NYSE:GM). The drawdown should strengthen the company’s financial position and provide access to much-needed capital to accelerate the development of the Thacker Pass Project.

Lithium Americas Corp. (NYSE:LAC) is focused on the development of the Thacker Pass project in Nevada. The project aims to produce battery-grade lithium carbonate, to contribute to a domestic lithium supply chain.

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Disclosure: None. This article is originally published at Insider Monkey.