Lithium Americas (TSE:LAC) Shares Up 97.9% - Still a Buy?

Key Points

• Lithium Americas shares surged by 97.9% during trading, reaching a high of C$8.75 and trading volume increased by 1,804% compared to the average session.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, contributing to a consensus rating of "Moderate Buy" among analysts.
• The company holds a 100% interest in the Thacker Pass project in Nevada and has a market capitalization of C$2.02 billion.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) shot up 97.9% during trading on Wednesday . The stock traded as high as C$8.75 and last traded at C$8.35. 12,966,430 shares were traded 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 Ratings Changes

Separately, Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Stock Performance

The business's fifty day moving average price is C$4.12 and its 200-day moving average price is C$3.96. 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 market cap of C$2.02 billion, a PE ratio of -33.40 and a beta of 1.26.

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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