Lithium Americas (TSE:LAC) Shares Up 9.7% - Here's Why

Lithium Americas Corp. (TSE:LAC - Get Free Report) was up 9.7% during mid-day trading on Wednesday . The stock traded as high as C$4.37 and last traded at C$4.30. Approximately 1,172,399 shares traded hands during trading, an increase of 143% from the average daily volume of 483,237 shares. The stock had previously closed at C$3.92.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. National Bank Financial cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. Evercore ISI upgraded Lithium Americas to a "strong-buy" rating in a report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$7.50.

Lithium Americas Stock Down 1.8%

The firm has a 50-day simple moving average of C$3.82 and a 200 day simple moving average of C$4.06. 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 has a market capitalization of C$681.60 million, a PE ratio of -23.43 and a beta of 1.58.

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.