Lithium Americas (TSE:LAC) Trading 23.1% Higher - What's Next?

Key Points

• Lithium Americas Corp. stock surged by 23.1% during Thursday's trading, reaching a high of C$10.48 after closing at C$8.35.
• Following an upgrade by Cormark to a "moderate buy" rating, the stock has a consensus rating of "Moderate Buy" with an average target price of C$7.50.
• The company has a market cap of C$2.48 billion and holds a 100% interest in the Thacker Pass project in northern Nevada.

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

Analysts Set New Price Targets

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

Lithium Americas Stock Performance

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