Lithium Americas (TSE:LAC) Trading 23.1% Higher - Here's What Happened

Key Points

• Lithium Americas Corp. saw a significant increase in its stock price, trading up 23.1% to C$10.28 from a previous close of C$8.35.
• Analyst ratings improved, with Cormark upgrading the stock to a "moderate buy," contributing to a consensus rating of "Moderate Buy" among investment analysts.
• The company holds a market capitalization of C$2.48 billion and engages in the exploration and development of lithium properties primarily in the United States and Canada.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price traded up 23.1% during mid-day trading on Thursday . The stock traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares traded hands during mid-day trading, an increase of 1,318% from the average session volume of 733,440 shares. The stock had previously closed at C$8.35.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Trading Up 23.1%

The firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of -41.12 and a beta of 1.26. The firm's 50 day moving average is C$4.12 and its 200 day moving average is C$3.96. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

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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