Lithium Americas (TSE:LAC) Stock Price Up 29.1% on Analyst Upgrade

Key Points

• Lithium Americas' share price surged 29.1% after National Bankshares raised their price target from C$5.00 to C$10.00, indicating strong analyst support.
• The stock traded as high as C$13.00 during the day, with trading volume increasing significantly by 409% compared to its average daily volume.
• While one analyst maintains a Strong Buy rating, multiple brokerages have downgraded the stock, contributing to a mixed consensus rating of "Hold" with an average target price of C$8.13.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price was up 29.1% on Friday after National Bankshares raised their price target on the stock from C$5.00 to C$10.00. National Bankshares currently has a sector perform rating on the stock. Lithium Americas traded as high as C$13.00 and last traded at C$12.34. Approximately 4,312,762 shares changed hands during mid-day trading, an increase of 409% from the average daily volume of 847,862 shares. The stock had previously closed at C$9.56.

Several other brokerages have also commented on LAC. TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Canaccord Genuity Group lowered shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target on the stock. in a research note on Thursday. Finally, Cormark upgraded 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, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Stock Up 30.9%

The business's fifty day moving average price is C$4.68 and its 200 day moving average price is C$4.17. The company has a market capitalization of C$3.02 billion, a P/E ratio of -50.04 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

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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