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Lithium Americas Stock Jumps 6% on JPMorgan Upgrade

Investing.com2 min read6 sources

Why is Lithium Americas stock up today?

Lithium Americas (LAC) stock rose 6.2% on Wednesday to close at $3.19 after JPMorgan upgraded the stock to Overweight with a $6 price target, citing higher lithium prices and Thacker Pass progress.

Key numbers

JPMorgan price target$6.00+100% implied upside
LAC share price$3.19+6.2% (Sept 9)
Lithium carbonate price$22.30/kgabove $20/kg since mid-Feb
Thacker Pass detailed engineering>95% complete
Thacker Pass procurement>80% complete
Goldman Sachs price target$4.50 (Neutral)

What happened

Lithium Americas (LAC) stock rose 6.2% on Wednesday to close at $3.19 after JPMorgan upgraded the stock to Overweight with a $6 price target, citing higher lithium prices and Thacker Pass progress. The new target is about double where the stock traded before the call, and follows JPMorgan raising its lithium price forecasts in June. The bank pointed to Thacker Pass, the company's Nevada lithium mine, where detailed engineering is over 95% complete and procurement is more than 80% done. Lithium carbonate, used in EV batteries, has stayed above $20 per kilogram since mid-February and now trades near $22.30 per kilogram.

Why it matters

Lithium Americas is racing to build one of the world's largest lithium mines at a time when battery-grade lithium prices are finally recovering after a long slump that hurt miners across the industry. A sustained price rebound and steady construction progress make it more likely the company can finish Thacker Pass without running short of cash, which has been a key worry for investors. The upgrade also signals growing confidence that lithium could stay in short supply for years, a trend that would benefit other producers too.

Who this affects

Marketbullish
Medium impact
Signals renewed investor optimism toward beaten-down lithium mining stocks.
Companybullish
High impact
Shares jump 6%; JPMorgan sees stock roughly doubling.
Competitorsbullish
Low impact
Albemarle, SQM could gain if lithium prices keep rising.
Industrybullish
Medium impact
Suggests a lithium supply shortage may persist for years.

Lithium Americas vs Albemarle, SQM

Lithium AmericasLAC$1.09B+6.2%n/aOverweight (JPM)
AlbemarleALB$14.86B-2.8%13.8x—
SQMSQM$21.53B-0.3%9.6x—

As of 2026-09-09

How we got here

  1. Lithium carbonate price climbs above $20/kg, holds since.

  2. JPMorgan raises lithium price assumptions in June commodity refresh.

  3. JPMorgan upgrades LAC to Overweight, sets $6 price target.

  4. Goldman Sachs initiates coverage at Neutral with $4.50 target.

What to watch

  • Thacker Pass progress toward finishing engineering and procurementQ4 2026
  • Whether lithium carbonate prices hold above $20/kg amid supply deficitQ4 2026

Educational content only. Not investment advice.

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