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

Key Points

• Lithium Americas Corp. stock price surged by 32.2%, closing at C$12.64 after reaching a high of C$13.00, with trading volume significantly spiking to over 7 million shares.
• Equities research analysts have provided mixed ratings, with one analyst rating the stock as a Strong Buy, while others have downgraded it to Hold or Sell, reflecting varied outlooks on its performance.
• The company's market capitalization stands at C$3.05 billion, with notable financial metrics including a P/E ratio of -50.56 and a high quick ratio of 52.06.

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 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 Upgrades and Downgrades

LAC has been the subject of a number of research analyst reports. Cormark cut shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday. 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 shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price for the company. in a report on Thursday. Finally, National Bankshares raised 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 report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of C$8.13.

Lithium Americas Stock Up 32.2%

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 business's fifty day simple moving average is C$4.85 and its two-hundred day simple moving average is C$4.22. The company has a market cap of C$3.05 billion, a PE 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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