Lithium Americas (TSE:LAC) Shares Up 32.2% - What's Next?

Key Points

• Lithium Americas Corp. saw a significant spike in share price, rising 32.2% to close at C$12.64 after trading peaked at C$13.00 on Saturday.
• Despite the surge, analysts have downgraded the stock from "moderate buy" to "sell" or "hold" with a consensus price target of C$8.13 amid varying opinions on its market potential.
• The company has a market capitalization of C$3.05 billion and holds a 100% interest in the Thacker Pass lithium project in northern Nevada.

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

Wall Street Analyst Weigh In

LAC has been the topic of several research reports. Canaccord Genuity Group downgraded Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price on the stock. in a research report on Thursday. Cormark downgraded Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday. TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Finally, National Bankshares increased 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 research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Lithium Americas presently has an average rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Trading Up 32.2%

The stock has a market cap of C$3.05 billion, a PE 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 company has a 50 day moving average of C$4.85 and a two-hundred day moving average of 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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