Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Up 14.7% - Time to Buy?

Key Points

• Lithium Americas (Argentina) Corp. shares surged by 14.7%, reaching a high of $5.34, on heavy trading volume of over 12 million shares.
• The company's market capitalization stands at $821 million, with a notable P/E ratio of 0.65 indicating potential undervaluation.
• Lithium Americas primarily explores lithium deposits in Argentina and is involved in several development and exploration projects, including the Cauchari-Olaroz project.

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - ) rose 14.7% during trading on Wednesday . The company traded as high as $5.34 and last traded at $5.07. Approximately 12,044,621 shares changed hands during trading, an increase of 741% from the average daily volume of 1,432,022 shares. The stock had previously closed at $4.42.

Lithium Americas (Argentina) Stock Performance

The firm has a market cap of $821.00 million, a P/E ratio of 0.65 and a beta of 1.35. The stock's 50 day simple moving average is $3.31 and its 200 day simple moving average is $2.55.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.

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