Lithium Americas (TSE:LAC) Trading 97.9% Higher - Here's Why

Key Points

• Lithium Americas' stock surged by 97.9% on Wednesday, reaching a peak of C$8.75, with over 12.9 million shares traded, significantly exceeding its average daily volume.
• Cormark upgraded Lithium Americas to a "moderate buy" rating, contributing to the current average rating of "Moderate Buy" among analysts and a target price of C$7.50.
• The company has a market capitalization of C$2.02 billion and holds a 100% interest in the Thacker Pass project located in northern Nevada, actively engaging in lithium property exploration and development.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares were up 97.9% during trading on Wednesday . The company traded as high as C$8.75 and last traded at C$8.35. Approximately 12,966,430 shares changed hands during mid-day trading, an increase of 1,804% from the average daily volume of 680,910 shares. The stock had previously closed at C$4.22.

Wall Street Analyst Weigh In

Separately, Cormark raised shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of "Moderate Buy" and an average target price of C$7.50.

Lithium Americas Stock Performance

The stock has a market cap of C$2.02 billion, a PE ratio of -33.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The company's 50 day simple moving average is C$4.04 and its 200 day simple moving average is C$3.93.

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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