Lithium Americas (TSE:LAC) Trading 97.9% Higher - Time to Buy?

Key Points

• Lithium Americas Corp. shares surged by 97.9%, reaching a last trading price of C$8.35, compared to a previous close of C$4.22.
• The company received a "moderate buy" rating upgrade from Cormark, with a consensus price target of C$7.50 among analysts.
• Lithium Americas has a market capitalization of C$2.02 billion and holds a significant asset in the Thacker Pass project in Nevada.

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

Analyst Ratings Changes

Separately, Cormark upgraded Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Lithium Americas presently has a consensus rating of "Moderate Buy" and a consensus price target of C$7.50.

Lithium Americas Price Performance

The stock has a market capitalization of C$2.02 billion, a price-to-earnings 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 has a fifty day simple moving average of C$4.04 and a two-hundred day simple moving average of 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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