Lithium Americas (TSE:LAC) Trading Down 13.1% on Analyst Downgrade

Key Points

• Lithium Americas Corp. shares fell by 13.1% following a downgrade from TD Cowen from a strong-buy to a hold rating.
• A separate upgrade to a "moderate buy" rating by Cormark resulted in the current consensus rating of "Moderate Buy" with an average target price of C$7.50.
• The company has a market cap of C$2.14 billion and a quick ratio of 52.06, indicating strong liquidity standing.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares traded down 13.1% during trading on Friday after TD Cowen downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.73 and last traded at C$8.93. 4,410,237 shares were traded during trading, an increase of 486% from the average session volume of 752,082 shares. The stock had previously closed at C$10.28.

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

Lithium Americas Trading Down 13.9%

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 firm has a market cap of C$2.14 billion, a P/E ratio of -35.40 and a beta of 1.26. The company's 50 day simple moving average is C$4.24 and its 200-day simple moving average is C$4.01.

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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