Lithium Americas (TSE:LAC) Shares Up 32.2% - Still a Buy?

Key Points

• Lithium Americas Corp. shares surged by 32.2%, reaching a trading high of C$13.00, significantly outperforming the average session volume.
• Recent analyst reports resulted in multiple downgrades, with Canaccord Genuity setting a price target of C$6.25, contrasting with a revised target of C$10.00 from National Bankshares.
• The company, with a market capitalization of C$3.05 billion, is engaged in lithium property exploration and development in both the United States and Canada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shot up 32.2% during mid-day trading 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

LAC has been the topic of a number of analyst reports. Canaccord Genuity Group downgraded 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 report on Thursday. TD Cowen downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. Cormark downgraded shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday. Finally, National Bankshares lifted their price objective on shares of Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lithium Americas has a consensus rating of "Hold" and an average price target of C$8.13.

Lithium Americas Stock Up 32.2%

The company has a market capitalization of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. 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 stock has a 50 day moving average price of C$4.85 and a 200 day moving average price of C$4.22.

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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