Lithium Americas (TSE:LAC) Shares Up 23.1% - Here's What Happened

Key Points

• Lithium Americas Corp. shares surged 23.1% on Friday, with trading volume increasing by 1,318% compared to the average session volume.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, contributing to a consensus rating of "Moderate Buy" from analysts.
• The company, which focuses on lithium properties in the U.S. and Canada, holds a market capitalization of C$2.48 billion.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares shot up 23.1% on Friday . The company traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares changed hands during trading, an increase of 1,318% from the average session volume of 733,440 shares. The stock had previously closed at C$8.35.

Analysts Set New Price Targets

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

Lithium Americas Trading Up 23.1%

The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The business's 50 day moving average price is C$4.24 and its 200-day moving average price is C$4.01. The firm has a market cap of C$2.48 billion, a price-to-earnings ratio of -41.12 and a beta of 1.26.

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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