Lithium Americas (TSE:LAC) Stock Price Up 32.2% - Time to Buy?

Key Points

• Lithium Americas Corp. (TSE:LAC) stock surged by 32.2%, trading up to C$13.00, with a significant volume increase of 747% during mid-day trading.
• Analyst ratings for Lithium Americas are mixed, with one strong buy, six holds, and one sell, reflecting a consensus rating of "Hold" and a price target of C$8.13.
• The company has a market capitalization of C$3.05 billion, a debt-to-equity ratio of 0.65, and a price-to-earnings ratio of -50.56, indicating its financial health amidst fluctuating stock prices.

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 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.

Wall Street Analyst Weigh In

LAC has been the subject of a number of analyst reports. Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective for the company. in a report on Thursday. Cormark cut Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday. National Bankshares lifted their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a report on Thursday. Finally, TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report 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. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of C$8.13.

Lithium Americas Stock Performance

The stock 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 current ratio of 13.88 and a quick ratio of 52.06. The stock has a market capitalization of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.