Lithium Americas (TSE:LAC) Trading 28.7% Higher on Analyst Upgrade

Key Points

• Lithium Americas Corp. shares surged by 28.7% after National Bankshares raised the price target from C$5.00 to C$10.00, indicating strong market confidence.
• The stock's trading volume was significantly higher, with approximately 4.78 million shares exchanged, a 462% increase from the usual daily volume.
• Current analyst ratings for Lithium Americas include one Strong Buy, six Holds, and one Sell, with a consensus rating of "Hold".

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 28.7% on Friday after National Bankshares raised their price target on the stock from C$5.00 to C$10.00. National Bankshares currently has a sector perform rating on the stock. Lithium Americas traded as high as C$13.00 and last traded at C$12.30. Approximately 4,781,441 shares were traded during mid-day trading, an increase of 462% from the average daily volume of 851,371 shares. The stock had previously closed at C$9.56.

Several other brokerages have also recently issued reports on LAC. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Finally, Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective on the stock. in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of "Hold" and an average target price of C$8.13.

Lithium Americas Stock Performance

The firm's fifty day simple moving average is C$4.68 and its 200 day simple moving average is C$4.17. The company has a market capitalization of C$2.98 billion, a price-to-earnings ratio of -49.32 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06.

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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