Lithium Americas (TSE:LAC) Stock Price Up 25% - Should You Buy?

Key Points

• Lithium Americas Corp. (TSE:LAC) saw its stock price increase by 25% during trading, reaching a high of C$10.50 after closing at C$7.95.
• Despite the increase, analysts have mixed sentiments, with two ratings of Strong Buy, one Buy rating, and four Hold ratings, leading to an average rating of "Moderate Buy" with a consensus price target of C$7.50.
• The company's current financial metrics include a market cap of C$2.37 billion, a debt-to-equity ratio of 0.65, and a P/E ratio of -39.24.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price rose 25% during trading on Wednesday . The stock traded as high as C$10.50 and last traded at C$9.94. Approximately 5,689,055 shares changed hands during mid-day trading, an increase of 603% from the average daily volume of 809,338 shares. The stock had previously closed at C$7.95.

Analysts Set New Price Targets

LAC has been the subject of several analyst reports. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. TD Cowen downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Trading Up 23.4%

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's fifty day moving average is C$4.47 and its 200 day moving average is C$4.09. The stock has a market cap of C$2.37 billion, a P/E ratio of -39.24 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.