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

Key Points

• Lithium Americas Corp. experienced a significant stock surge, trading up 32.2% to C$12.64, marking a notable increase from its previous closing price of C$9.56.
• The company saw a dramatic increase in trading volume, with 7.33 million shares exchanged, a 747% increase compared to its average session volume.
• Analyst ratings are mixed, with the average target price for the stock being C$8.13, indicating a consensus rating of "Hold" across multiple analysts.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price traded 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 Upgrades and Downgrades

A number of analysts recently weighed in on the stock. National Bankshares upped 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 note on Thursday. TD Cowen lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Cormark lowered shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Finally, 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 for the company. in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Stock Up 32.2%

The stock has a market capitalization of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The company's 50-day moving average is C$4.85 and its 200 day moving average is C$4.22.

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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