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Lithium Americas Corp. (NYSE:LAC), backed by significant analyst-implied upside, ranks among the overlooked penny stocks to buy right now. The company's Thacker Pass project has drawn fresh Wall Street attention just as construction accelerates toward a 2027 startup, giving investors a new data point on how the market views the risk-reward setup.

On July 1, 2026, Goldman Sachs analyst Duffy Fischer initiated coverage of Lithium Americas Corp. (NYSE:LAC) with a "Neutral" rating and a $4.50 price target. Fischer's note pointed to Thacker Pass as poised to become the first significant lithium capacity built in the United States, while also flagging ongoing risk tied to construction execution and operating efficiency.

That initiation followed an operational update Lithium Americas Corp. (NYSE:LAC) gave alongside its first-quarter 2026 results.

CEO Jonathan Evans said construction work is moving toward mechanical completion in late 2027, with more than 1,300 workers on site as of mid-May and headcount expected to top 2,000 at peak. As of March 31, 2026, Lithium Americas Corp. (NYSE:LAC) held roughly $1.2 billion in total cash and restricted cash, including $529 million at the Thacker Pass joint venture level. Detailed engineering had surpassed 95% complete, and procurement was more than 70% finished.

The company continues targeting total 2026 capital expenditures of $1.3 billion to $1.6 billion for Thacker Pass Phase 1. Shares of Lithium Americas Corp. (NYSE:LAC) are down more than 13% so far in 2026.

Lithium Americas Corp. (NYSE:LAC) is a lithium development company.

While we acknowledge the potential of LAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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