Lithium Americas (TSE:LAC) Trading Up 32.2% - Here's What Happened

Key Points

• Lithium Americas Corp. stock surged 32.2% during mid-day trading, with shares trading as high as C$13.00, reflecting a significant increase in trading volume at 7.3 million shares exchanged.
• Analysts have mixed opinions, with Canaccord Genuity downgrading the stock to a "sell" while National Bankshares raised its price target to C$10.00, resulting in an average rating of "Hold" across multiple analysts.
• The company holds a 100% interest in the Thacker Pass project in Nevada and has a market capitalization of C$3.05 billion, with key financial ratios indicating strong liquidity compared to its debt levels.

Lithium Americas Corp. (TSE:LAC - Get Free Report) traded up 32.2% during mid-day trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares changed hands during mid-day trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Canaccord Genuity Group cut shares of Lithium Americas from a "moderate buy" rating to a "sell" rating and set a C$6.25 price objective on the stock. in a research note on Thursday. National Bankshares increased their price target on Lithium Americas from C$5.00 to C$10.00 and gave the company a "sector perform" rating in a research note on Thursday. Cormark lowered Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday. Finally, TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Lithium Americas presently has an average rating of "Hold" and a consensus target price of C$8.13.

Lithium Americas Stock Up 32.2%

The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of C$4.85 and a 200 day moving average of C$4.22. The firm has a market cap of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26.

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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