Lithium Americas (TSE:LAC) Stock Price Up 32.2% - Here's What Happened

Key Points

• Lithium Americas Corp. saw a significant share price increase of 32.2%, reaching a high of C$13.00 during Saturday's trading session.
• Analysts have mixed views on the company's stock, with ratings ranging from a strong buy to sell, and an average target price of C$8.13 as per recent evaluations.
• The company's market cap is around C$3.05 billion, with a notable increase in trading volume, up 747% from the average daily volume.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price was up 32.2% during trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares traded hands during mid-day trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

Analysts Set New Price Targets

Several analysts have recently commented on LAC shares. Cormark cut Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. National Bankshares lifted their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research note on Thursday. Finally, Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price on the stock. in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of "Hold" and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

The firm has a market cap of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. The company has a 50 day moving average of C$4.85 and a 200 day moving average of C$4.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88.

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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