Lithium Americas (TSE:LAC) Stock Price Up 32.2% - Still a Buy?

Key Points

• Lithium Americas Corp. shares surged by 32.2% on Saturday, reaching a high of C$13.00, significantly up from its previous close of C$9.56.
• Recent analyst ratings reflect a mixed outlook, with Canaccord Genuity downgrading the stock from "moderate buy" to "sell," while National Bankshares has raised its price target from C$5.00 to C$10.00.
• The company, which focuses on lithium exploration in the U.S. and Canada, holds a market cap of C$3.05 billion and has a consensus rating of "Hold" with an average price target of C$8.13.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares rose 32.2% during 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 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.

Analyst Ratings Changes

LAC has been the topic of a number of research reports. 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. TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Cormark lowered shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Finally, National Bankshares increased their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and an average price target of C$8.13.

Lithium Americas Stock Performance

The stock's fifty day moving average price is C$4.85 and its two-hundred day moving average price is 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. The company has a market cap 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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