Lithium Americas (TSE:LAC) Shares Up 32.2% on Analyst Upgrade

Key Points

• Lithium Americas Corp. shares surged by 32.2% following an upgrade by National Bankshares, raising the price target from C$5.00 to C$10.00.
• The company's average rating is currently a "Hold" with a consensus price target of C$8.13, despite mixed reviews from various analysts.
• Lithium Americas holds a 100% interest in the Thacker Pass project in Nevada and is involved in the exploration and development of lithium properties in North America.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price traded up 32.2% during mid-day trading on Friday after National Bankshares raised their price target on the stock from C$5.00 to C$10.00. National Bankshares currently has a sector perform rating on the stock. Lithium Americas traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares traded 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.

Other analysts have also issued research reports about the company. Cormark raised Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Canaccord Genuity Group lowered shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective for the company. in a report on Thursday. Finally, TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Lithium Americas presently has an average rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Price Performance

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 has a 50-day simple moving average of C$4.68 and a 200 day simple moving average of C$4.17. The firm has a market cap of C$3.05 billion, a P/E 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.

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.