Lithium Americas (TSE:LAC) Shares Down 13.8% Following Analyst Downgrade

Key Points

• Lithium Americas Corp. shares dropped 13.8% after TD Cowen downgraded the stock from strong-buy to hold, with the stock trading as low as C$8.84.
• The company has received mixed ratings, with one analyst giving it a Strong Buy rating, while others have issued Hold and Buy ratings, leading to an average rating of "Moderate Buy."
• Lithium Americas has a market cap of C$2.14 billion and is focused on lithium exploration and development, particularly its Thacker Pass project in Nevada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) fell 13.8% during mid-day trading on Friday after TD Cowen downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.84 and last traded at C$8.86. 3,253,634 shares were traded during trading, an increase of 338% from the average session volume of 742,500 shares. The stock had previously closed at C$10.28.

Separately, Cormark upgraded Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of "Moderate Buy" and a consensus target price of C$7.50.

Lithium Americas Price Performance

The stock has a market cap of C$2.14 billion, a price-to-earnings ratio of -35.44 and a beta of 1.26. The company has a 50-day simple moving average of C$4.24 and a two-hundred day simple moving average of C$4.01. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.

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