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

Key Points

• Lithium Americas Corp. shares surged by 32.2%, with prices reaching as high as C$13.00 due to increased trading activity.
• Research firms have issued mixed ratings, with upgrades from National Bankshares and downgrades from Canaccord Genuity and TD Cowen, resulting in an average target price of C$8.13.
• The company, focusing on lithium properties in the US and Canada, holds a significant project in Thacker Pass, Nevada, and has a market capitalization of C$3.05 billion.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LAC. Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective on the stock. in a research report on Thursday. TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. National Bankshares boosted their price objective on shares of 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 cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Price Performance

The stock has a market capitalization of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. 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 stock's 50 day moving average price is C$4.85 and its 200-day moving average price is C$4.22.

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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