Lithium Americas (TSE:LAC) Trading Down 14% After Analyst Downgrade

Key Points

• Lithium Americas shares dropped 14% following an analyst downgrade from a strong-buy to a hold rating by TD Cowen, with the stock trading at C$8.84.
• Cormark upgraded the company to a "moderate buy," leaving the stock with an average rating of "Moderate Buy" and an average target price of C$7.50.
• The company holds a significant interest in the Thacker Pass project in northern Nevada and has a market cap of C$2.14 billion.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) fell 14% during mid-day 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$8.84. 5,450,655 shares changed hands during trading, an increase of 618% from the average session volume of 758,802 shares. The stock had previously closed at C$10.28.

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

Lithium Americas Trading Down 14.0%

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 50 day simple moving average of C$4.24 and a two-hundred day simple moving average of C$4.01. The company has a market cap of C$2.14 billion, a PE ratio of -35.36 and a beta of 1.26.

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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