Lithium Americas (TSE:LAC) Trading Up 32.2% - Still a Buy?

Key Points

• Lithium Americas shares surged 32.2% to trade at C$12.64, with an unusually high trading volume increasing by 747% from the average.
• Analysts have mixed views on the stock, with ratings ranging from a "Strong Buy" to a "Sell," and a consensus price target set at C$8.13.
• The company, which holds a 100% interest in the Thacker Pass project in Nevada, has a market capitalization of C$3.05 billion and a negative price-to-earnings ratio of -50.56.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) traded up 32.2% during trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares were traded during 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 Analysts Forecast Growth

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

Lithium Americas Stock Up 32.2%

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's 50 day simple moving average is C$4.85 and its 200-day simple moving average is C$4.22. The stock has a market capitalization 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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