Lithium Americas (TSE:LAC) Trading Up 23.1% - Here's What Happened

Key Points

• Lithium Americas Corp. shares surged by 23.1% during mid-day trading, reaching a high of C$10.48 after closing the previous day at C$8.35.
• The stock experienced a significant increase in trading volume, with over 10 million shares changing hands, marking a 1,318% rise from its average session volume.
• Analysts have generally rated the stock as a Moderate Buy, with one analyst issuing a Strong Buy rating and an average price target set at C$7.50.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) shot up 23.1% during mid-day trading on Thursday . The stock traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares changed hands during mid-day trading, an increase of 1,318% from the average session volume of 733,465 shares. The stock had previously closed at C$8.35.

Analyst Ratings Changes

Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Lithium Americas currently has a consensus rating of "Moderate Buy" and an average 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 firm has a market capitalization of C$2.48 billion, a price-to-earnings ratio of -41.12 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.

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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