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

Key Points

• Lithium Americas shares fell 14% following a downgrade from TD Cowen, shifting from a strong-buy to a hold rating, with trading volume increasing significantly.
• Despite the downgrade, Cormark recently upgraded the stock to a "moderate buy" rating, with mixed analyst opinions overall leading to an average rating of "Moderate Buy" and a target price of C$7.50.
• The company holds a market cap of C$2.14 billion and is focused on lithium property exploration and development in the U.S. and Canada, notably the Thacker Pass project in Nevada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares traded down 14% 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 were traded during mid-day 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 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 four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of C$7.50.

Lithium Americas Stock Down 14.0%

The stock's fifty day moving average price is C$4.24 and its 200 day moving average price is C$4.01. The stock has a market cap of C$2.14 billion, a P/E ratio of -35.36 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

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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