Lithium Americas (TSE:LAC) Trading 32.2% Higher - Here's What Happened

Key Points

• Lithium Americas Corp. shares surged by 32.2% on Saturday, reaching a trading high of C$13.00, with a significant increase in trading volume of 747% compared to its average session.
• Recent analyst ratings show a shift, with Canaccord Genuity downgrading the stock from "moderate buy" to "sell," while National Bankshares raised their target price from C$5.00 to C$10.00, indicating mixed perceptions in the market.
• The company has a market cap of C$3.05 billion and key financial ratios indicating relative stability, including a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price shot up 32.2% on Saturday . The company traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares traded hands during mid-day trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Analyst Ratings Changes

A number of research firms recently weighed in on LAC. Canaccord Genuity Group lowered 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 report on Thursday. National Bankshares increased their price objective on shares of Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating in a research report on Thursday. Cormark lowered shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday. Finally, TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

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$4.85 and its 200-day moving average is C$4.22. The stock has a market cap of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26.

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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