Lithium Americas stock falls as BMO cuts target to $4.50 amid rising costs and dilution concerns.

Lithium Americas shares have dropped over 16% year-to-date, trading near $3.97, well below their 52-week high of $10.52. BMO Capital lowered its price target from $6 to $4.50 due to increased capital expenditure inflation at the Thacker Pass project and ongoing dilution from equity issuance. The project is progressing with 93% of Phase 1 engineering complete and strong strategic partnerships, but risks remain from cost overruns and tariff exposure. BMO's cautious Market Perform rating reflects limited near-term upside as the company works toward mechanical completion targeted for late 2027.