Lithium Americas (TSE:LAC) Trading Up 32.2% After Analyst Upgrade

Key Points

• Lithium Americas' stock price surged 32.2% after National Bankshares raised its price target from C$5.00 to C$10.00 and maintained a sector perform rating.
• The stock experienced a trading volume increase of 747%, with approximately 7.3 million shares traded during mid-day trading.
• Currently, the stock has a consensus rating of "Hold" with an average target price of C$8.13, following mixed analyst ratings.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s share price was up 32.2% during mid-day trading on Friday after National Bankshares raised their price target on the stock from C$5.00 to C$10.00. National Bankshares currently has a sector perform rating on the stock. Lithium Americas traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares were traded during mid-day trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

LAC has been the subject of a number of other reports. Cormark raised Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. Finally, Canaccord Genuity Group cut Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target for the company. in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

The business has a 50 day moving average of C$4.68 and a two-hundred day moving average of C$4.17. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The firm has a market cap of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26.

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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