Lithium Americas (TSE:LAC) Shares Down 14% After Analyst Downgrade

Key Points

• Lithium Americas Corp.'s stock fell by 14% after TD Cowen downgraded the company from a strong-buy to a hold rating, with shares trading as low as C$8.73.
• The stock experienced a significant increase in trading volume, with approximately 5.45 million shares traded, marking a 618% rise from its average daily volume.
• Currently, Lithium Americas has an average rating of "Moderate Buy" and a consensus price target of C$7.50, with mixed ratings from six analysts.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price dropped 14% 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$8.73 and last traded at C$8.84. Approximately 5,450,655 shares traded hands during trading, an increase of 618% from the average daily volume of 758,802 shares. The stock had previously closed at C$10.28.

Separately, Cormark upgraded shares of 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 assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Lithium Americas presently has an average rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Trading Down 14.0%

The company has a market cap of C$2.14 billion, a P/E ratio of -35.36 and a beta of 1.26. The stock's 50-day moving average is C$4.24 and its two-hundred day moving average is C$4.01. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06.

About Lithium Americas

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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