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LAC

Lithium Americas

$3.56

-0.17 (-4.56%)

, SQM

SQM

$45.68

-1.16 (-2.48%)

18:03
08/13/18
08/13
18:03
08/13/18
18:03

Lithium Americas to partner with Ganfeng Lithium in Cauchari-Olaroz

Lithium Americas (LAC) is pleased to announce that it has entered into definitive transaction agreements to implement a number of transactions, pursuant to which, among other things, a subsidiary of Sociedad Quimica y Minera de Chile S.A. (SQM) has agreed to sell all of its interest in Minera Exar S.A., the holding company for the Cauchari-Olaroz lithium brine project, to a subsidiary of Jiangxi Ganfeng Lithium Co., Ltd. As a result of the Transaction, Ganfeng Lithium will become Lithium Americas' partner in developing and operating the Project, which is currently under development in Jujuy, Argentina. Lithium Americas' interest in Cauchari-Olaroz will increase from 50% to 62.5%, with Ganfeng Lithium holding the remaining 37.5% interest. In connection with the Transaction, Ganfeng Lithium has agreed to provide Lithium Americas with a new $100 million limited recourse, subordinated loan facility to fully fund Lithium Americas' share of Cauchari-Olaroz' capital expenditures. In addition, Lithium Americas and Ganfeng Lithium have entered into a strategic collaboration agreement to explore future opportunities to collaborate and develop lithium resources. The focus of the Strategic Collaboration Agreement will be on technical and financial collaboration with the objective of identifying and developing lithium resource projects in North and South America that leverage both companies' respective strengths.

LAC

Lithium Americas

$3.56

-0.17 (-4.56%)

SQM

SQM

$45.68

-1.16 (-2.48%)

LAC Lithium Americas
$3.56

-0.17 (-4.56%)

05/03/18
ROTH
05/03/18
INITIATION
Target $9.5
ROTH
Buy
Lithium Americas initiated with a Buy at Roth Capital
Roth Capital analyst Joe Reagor started Lithium Americas with a Buy rating and $9.50 price target. The analyst believes the company has a "strong" portfolio of assets with the potential to become a lithium producer by 2020. Further, he thinks the market "significantly undervalues" Lithium's Nevada asset.
05/03/18
05/03/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. nVent Electric (NVT) initiated with a Neutral at Goldman Sachs and a Perform at Oppenheimer. 2. Apergy (APY) initiated with an Outperform at Evercore ISI. 3. BioXcel Therapeutics (BTAI) initiated with a Buy at H.C. Wainwright. 4. CytRx (CYTR) assumed with a Buy at H.C. Wainwright. 5. Lithium Americas (LAC) initiated with a Buy at Roth Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
SQM SQM
$45.68

-1.16 (-2.48%)

05/17/18
SBSH
05/17/18
NO CHANGE
SBSH
Citi views Tianqi's potential SQM stake as positive for Albemarle, FMC
Tianqi being close to purchasing a 24% stake in SQM for $4.3B, as reported yesterday by Reuters, has positive implications for both Albemarle (ALB) and FMC Corporation, Citi analyst P.J. Juvekar tells investors in a research note. This could be the first step towards "much-needed" consolidation in lithium, the analyst adds. He estimates the offer values SQM's lithium business at around 23 times 2018 EV/EBITDA. The analyst believes the deal, should it materialize, bodes well for the valuations of Albemarle's and FMC's lithium businesses.
05/18/18
DBAB
05/18/18
NO CHANGE
DBAB
Buy
SQM stake sale a positive development, says Deutsche Bank
Deutsche Bank analyst Chris Terry views Nutrien's 24% stake sale to Tianqi as a positive development for SQM. The analyst, while admitting the premium was perhaps not as high as some investors had expected, maintains a Buy rating on SQM with a $63 price target. The agreed 12% premium recognizes the quality of SQM's resource base, Terry tells investors in a research note. He also expects the company to report strong Q1 results on May 23.
05/24/18
IBBA
05/24/18
UPGRADE
IBBA
Market Perform
SQM upgraded to Market Perform from Underperform at Itau BBA
05/24/18
05/24/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Buy from Neutral at UBS with analyst Steven Fisher saying the slow recovery in Deere's large agriculture business could accelerate in fiscal 2019 with higher grain prices, which have a favorable set-up entering the growing season. 2. Rowan Companies (RDC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Judson Bailey citing stronger offshore activity and dayrates. The analyst also raised his price target on the shares to $20 from $12. 3. SQM (SQM) upgraded to Market Perform from Underperform at Itau BBA. 4. TAL Education (TAL) upgraded to Buy from Outperform at CLSA. 5. Northern Oil and Gas (NOG) upgraded to Buy from Hold at SunTrust analyst Neal Dingmann saying that after some "painful reorganization," he sees FY18 leverage being reduced to 2.7-times enterprise value to EBITDA vs. 7.0-times in FY17. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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