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

Key Points

• Lithium Americas Corp. shares surged 23.1% to C$10.28, significantly increasing trading volume by 1,318% from the average session volume.
• The stock was upgraded to a "moderate buy" by Cormark, with a consensus price target set at C$7.50 from multiple analysts.
• Lithium Americas has a market capitalization of C$2.48 billion and holds a 100% interest in the Thacker Pass project in Nevada.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) shot up 23.1% during mid-day trading on Friday . The company traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares changed 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.

Analysts Set New Price Targets

A number of research firms have commented on LAC. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. TD Cowen downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$7.50.

Lithium Americas Trading Up 23.1%

The stock has a market cap of C$2.48 billion, a price-to-earnings ratio of -41.12 and a beta of 1.26. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The business's 50 day simple moving average is C$4.24 and its 200 day simple moving average is C$4.01.

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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