Lithium Americas (TSE:LAC) Trading 23.1% Higher - Time to Buy?

Key Points

• Lithium Americas Corp. experienced a significant stock increase of 23.1%, closing at C$10.28 after trading as high as C$10.48 on Thursday.
• The company received a "moderate buy" rating upgrade from Cormark, contributing to its positive market sentiment amidst a consensus rating of "Moderate Buy" from analysts.
• Lithium Americas holds a 100% interest in the Thacker Pass lithium project in Nevada and has a market capitalization of C$2.48 billion.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares traded up 23.1% on Thursday . The stock traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares were traded 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.

Wall Street Analyst Weigh In

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

Lithium Americas Trading Up 23.1%

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 company's fifty day moving average is C$4.24 and its 200-day moving average is C$4.01. The stock has a market cap of C$2.48 billion, a PE ratio of -41.12 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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