Lithium Americas (TSE:LAC) Stock Price Up 87.7% - Here's What Happened

Key Points

• Lithium Americas Corp. stock surged by 87.7% to C$7.92 on Wednesday, following an increase in trading volume by 725% from its daily average.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, contributing to an overall average analyst rating of "Moderate Buy" with a consensus price target of C$7.50.
• The company is actively involved in the exploration and development of lithium properties in the US and Canada, holding a 100% interest in the Thacker Pass project in Nevada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 87.7% on Wednesday . The stock traded as high as C$8.44 and last traded at C$7.92. Approximately 5,132,604 shares traded hands during mid-day trading, an increase of 725% from the average daily volume of 621,846 shares. The stock had previously closed at C$4.22.

Analyst Ratings Changes

Separately, Cormark upgraded Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Lithium Americas currently has an average rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Price Performance

The company's 50-day simple moving average is C$4.04 and its 200-day simple moving average is C$3.93. 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$2.01 billion, a price-to-earnings ratio of -33.32 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.

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