Lithium Americas (TSE:LAC) Stock Price Up 32.2% Following Analyst Upgrade

Key Points

• Lithium Americas Corp. (TSE:LAC) shares surged by 32.2% after National Bankshares raised its price target from C$5.00 to C$10.00, indicating a significant market impact.
• The stock's trading volume increased by 747% compared to its average, highlighting heightened investor interest during the price surge.
• Currently, Lithium Americas has mixed ratings, with one Strong Buy, six Holds, and one Sell, resulting in an average rating of "Hold" and a consensus price target of C$8.13.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 32.2% during mid-day trading 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$12.64. Approximately 7,329,801 shares changed hands during trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

Several other research analysts have also recently commented on the stock. TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target for the company. in a report on Thursday. Finally, Cormark raised Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$8.13.

Lithium Americas Price Performance

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 business's fifty day moving average price is C$4.85 and its 200-day moving average price is C$4.22. The company has a market capitalization of C$3.05 billion, a P/E ratio of -50.56 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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