Lithium Americas (TSE:LAC) Shares Up 97.9% - Here's What Happened

Key Points

• Lithium Americas Corp. shares surged 97.9% on Wednesday, with trading volumes increasing by 1,804% compared to the average session.
• Analyst ratings for Lithium Americas trend positive, with a current average rating of "Moderate Buy" and a target price of C$7.50.
• The company, which specializes in lithium exploration and development, holds a 100% interest in the Thacker Pass project in Nevada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares shot up 97.9% during trading on Wednesday . The company traded as high as C$8.75 and last traded at C$8.35. 12,966,430 shares traded hands during trading, an increase of 1,804% from the average session volume of 680,910 shares. The stock had previously closed at C$4.22.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Lithium Americas currently has an average rating of "Moderate Buy" and an average target price of C$7.50.

Lithium Americas Trading Up 97.9%

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 firm has a market cap of C$2.02 billion, a PE ratio of -33.40 and a beta of 1.26. The stock's 50 day simple moving average is C$4.12 and its 200 day simple moving average is C$3.96.

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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