Lithium Americas (TSE:LAC) Stock Price Up 23.1% - Here's What Happened

Key Points

• Lithium Americas Corp.'s stock price surged by 23.1% on Friday, reaching a high of C$10.48 before settling at C$10.28, with trading volume increasing significantly by 1,318% compared to its average.
• Analysts provided mixed ratings, with one upgrade to a "moderate buy" from Cormark and a downgrade to "hold" from TD Cowen, leading to an average rating of "moderate buy" with a target price of C$7.50.
• The company's market capitalization stands at C$2.48 billion, featuring strong liquidity ratios, but a negative P/E ratio of -41.12.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price shot up 23.1% on Friday . The stock traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares changed hands during trading, an increase of 1,318% from the average session volume of 733,440 shares. The stock had previously closed at C$8.35.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. One 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$7.50.

Lithium Americas Stock Up 23.1%

The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The company has a 50-day simple moving average of C$4.24 and a 200 day simple moving average of C$4.01. The company has a market cap of C$2.48 billion, a P/E ratio of -41.12 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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