Lithium Americas (TSE:LAC) Shares Down 7% - Here's What Happened

Key Points

• Lithium Americas Corp. shares fell by 7% on Monday, trading as low as C$7.98, with a significant volume increase to over 1.17 million shares.
• Analysts have mixed ratings for the stock, with TD Cowen downgrading it from "strong buy" to "hold," while Cormark upgraded it to "moderate buy"; the consensus price target is C$7.50.
• The company, valued at C$1.93 billion, is focused on lithium property exploration and development in the U.S. and Canada, holding a 100% interest in the Thacker Pass project.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) were down 7% on Monday . The stock traded as low as C$7.98 and last traded at C$8.22. Approximately 1,173,481 shares changed hands during trading, an increase of 54% from the average daily volume of 760,173 shares. The stock had previously closed at C$8.84.

Analysts Set New Price Targets

A number of research analysts have commented on the company. TD Cowen lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Cormark raised 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 assigned a Hold rating to the stock. According to MarketBeat, Lithium Americas presently has an average rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Trading Down 9.8%

The stock has a market capitalization of C$1.93 billion, a PE ratio of -31.88 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of C$4.33 and a 200-day moving average price of C$4.04.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.