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

Key Points

• Lithium Americas Corp. experienced a significant 32.2% increase in stock price after National Bankshares raised its price target from C$5.00 to C$10.00.
• Analyst ratings are mixed, with Canaccord Genuity cutting their rating to "sell" and Cormark upgrading to "moderate buy", resulting in a consensus rating of "Hold" with an average price target of C$8.13.
• The company, which has a market capitalization of C$3.05 billion, is focused on lithium exploration and holds a 100% stake in the Thacker Pass project in Nevada.

Lithium Americas Corp. (TSE:LAC - Get Free Report) shot 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. 7,329,801 shares changed hands during trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Other analysts have also issued reports about the stock. Canaccord Genuity Group lowered shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price target on the stock. in a research report on Thursday. Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Finally, TD Cowen cut shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lithium Americas has a consensus rating of "Hold" and an average price target of C$8.13.

Lithium Americas Price Performance

The stock has a market capitalization of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. The company's 50 day simple moving average is C$4.68 and its two-hundred day simple moving average is C$4.17. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06.

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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