Lithium Americas (TSE:LAC) Trading 32.2% Higher - What's Next?

Key Points

• Lithium Americas Corp. experienced a significant stock increase of 32.2%, trading as high as C$13.00 before closing at C$12.64, with trading volume rising to over 7 million shares.
• Multiple analyst downgrades occurred recently, with Canaccord Genuity reducing their rating to "sell" and setting a price target of C$6.25, while others maintained hold ratings.
• The current average target price of Lithium Americas is C$8.13, reflecting a cautious outlook as the stock has received an overall rating of "Hold" from analysts.

Lithium Americas Corp. (TSE:LAC - Get Free Report) traded up 32.2% on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares were traded during 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

Several equities research analysts have weighed in on the company. Canaccord Genuity Group cut 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. Cormark lowered Lithium Americas from a "moderate buy" rating to a "hold" rating in a research report on Thursday. TD Cowen lowered Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. Finally, National Bankshares boosted their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Lithium Americas presently has an average rating of "Hold" and an average target price of C$8.13.

Lithium Americas Stock 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 firm has a market cap of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. The company has a 50-day simple moving average of C$4.85 and a 200-day simple moving average of 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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