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

Key Points

• Lithium Americas Corp. stock surged 32.2% to C$12.64 amid increased trading volume, with approximately 7.3 million shares changing hands.
• Analysts have mixed views on the stock; Canaccord Genuity downgraded it to a "sell" with a target of C$6.25, while National Bankshares raised its target to C$10.00.
• The company holds a market cap of C$3.05 billion and is primarily engaged in the exploration and development of lithium properties in the U.S. and Canada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 32.2% during mid-day trading on Saturday . The company traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares traded 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.

Analysts Set New Price Targets

LAC has been the subject of several research reports. Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target for the company. in a research note on Thursday. National Bankshares raised their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research note on Thursday. Cormark cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Lithium Americas presently has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Stock Up 32.2%

The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The company has a market cap of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26. The stock has a fifty day moving average price of C$4.85 and a two-hundred day moving average price of C$4.22.

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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