Lithium Americas (TSE:LAC) Trading Up 19.2% - What's Next?

Key Points

• The stock of Lithium Americas rallied by 19.2%, closing at C$9.95 after reaching a high of C$10.48 during trading on Thursday.
• Cormark has upgraded the stock's rating to "moderate buy," contributing to a consensus rating of "Moderate Buy" with a price target of C$7.50.
• Lithium Americas holds a 100% interest in the Thacker Pass lithium project located in northern Nevada, emphasizing its strategic position in the lithium market.

Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 19.2% during trading on Thursday . The company traded as high as C$10.48 and last traded at C$9.95. Approximately 6,171,588 shares changed hands during mid-day trading, an increase of 773% from the average daily volume of 706,835 shares. The stock had previously closed at C$8.35.

Wall Street Analysts Forecast Growth

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

Lithium Americas Stock Performance

The stock's 50-day moving average is C$4.12 and its 200-day moving average is C$3.96. The stock has a market cap of C$2.41 billion, a price-to-earnings ratio of -39.96 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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