Lithium Americas (TSE:LAC) Shares Up 32.2% - Here's What Happened

Key Points

• Lithium Americas Corp. shares experienced a significant increase of 32.2%, trading as high as C$13.00 before settling at C$12.64 on Saturday.
• Despite the stock surge, analysts have mixed opinions, with Canaccord Genuity downgrading the company to a "sell" with a target price of C$6.25, while National Bankshares raised their target to C$10.00.
• Lithium Americas holds a 100% interest in the Thacker Pass project in northern Nevada, indicating its focus on lithium property exploration and development in North America.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shot up 32.2% during trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares changed hands during trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAC. Canaccord Genuity Group downgraded Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price for the company. in a report on Thursday. TD Cowen lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. National Bankshares upped their price target on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research report on Thursday. Finally, Cormark lowered Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Stock Up 32.2%

The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of C$4.85 and a two-hundred day moving average of C$4.22. The stock has a market capitalization of C$3.05 billion, a price-to-earnings ratio of -50.56 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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