Lithium Americas (TSE:LAC) Trading 32.2% Higher - Should You Buy?

Key Points

• Lithium Americas Corp. shares surged 32.2%, reaching a high of C$13.00 before closing at C$12.64, with trading volume hitting 7.3 million shares—an increase of 747% from the average volume.
• Analysts have increasingly downgraded Lithium Americas, with ratings dropping to "hold" and "sell," while the consensus target price is C$8.13, indicating caution among market experts.
• The company has a market cap of C$3.05 billion, a current ratio of 13.88, and a P/E ratio of -50.56, suggesting a need for closer scrutiny of its financial health.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cormark downgraded shares of Lithium Americas from a "moderate buy" rating to a "hold" rating in a report on Thursday. TD Cowen downgraded shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. 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 for the company. in a report on Thursday. Finally, National Bankshares boosted their target price on Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of C$8.13.

Lithium Americas Stock Performance

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 price is C$4.85 and its two-hundred day moving average price is C$4.22. The company has a market cap of C$3.05 billion, a P/E ratio of -50.56 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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