Lithium Americas (TSE:LAC) Stock Price Down 14% Following Analyst Downgrade

Key Points

• Lithium Americas Corp. shares fell 14% following a downgrade from TD Cowen, moving from a strong-buy to a hold rating, with the stock last trading at C$8.84.
• Despite the downgrade, Cormark upgraded the stock to a "moderate buy", and the consensus rating is currently a "Moderate Buy" with a target price of C$7.50.
• The company's market cap stands at C$2.14 billion, with a price-to-earnings ratio of -35.36, reflecting its financial challenges.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) dropped 14% during trading on Friday after TD Cowen downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.73 and last traded at C$8.84. Approximately 5,450,755 shares were traded during mid-day trading, an increase of 619% from the average daily volume of 757,908 shares. The stock had previously closed at C$10.28.

Separately, Cormark raised Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Stock Down 14.0%

The firm has a market cap of C$2.14 billion, a price-to-earnings ratio of -35.36 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average price of C$4.24 and a 200-day moving average price of C$4.01.

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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