Lithium Americas (TSE:LAC) Trading 32.5% Higher Following Analyst Upgrade

Key Points

• Lithium Americas Corp. shares surged by 32.5% following an upgrade from National Bankshares, which raised their price target from C$5.00 to C$10.00.
• The stock's trading activity increased significantly, with over 7 million shares changing hands, marking a 724% rise in volume compared to the average session.
• Analyst ratings are mixed, with one holding a Strong Buy, six assigning a Hold rating, and one issuing a Sell rating, leading to an average rating of "Hold" and a consensus target price of C$8.13.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price traded up 32.5% during trading 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$12.67. 7,097,550 shares traded hands during mid-day trading, an increase of 724% from the average session volume of 860,834 shares. The stock had previously closed at C$9.56.

Several other analysts have also recently commented on LAC. Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 target price for the company. in a research report on Thursday. Cormark raised Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. Finally, TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research report on Thursday, September 25th. One 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. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of C$8.13.

Lithium Americas Trading Up 32.5%

The business has a 50-day moving average of C$4.68 and a 200-day moving average of C$4.17. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The stock has a market cap of C$3.06 billion, a price-to-earnings ratio of -50.68 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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