Lithium Americas (TSE:LAC) Trading Up 32.2% - Time to Buy?

Key Points

• Lithium Americas Corp. saw a stock price surge of 32.2%, trading up to C$13.00 after a previous close of C$9.56.
• Analysts have issued mixed ratings on the stock, with one Strong Buy, six Hold, and one Sell rating, leading to a consensus rating of "Hold" and a price target of C$8.13.
• The company specializes in lithium property exploration and development in the U.S. and Canada, holding a 100% interest in the Thacker Pass project in Nevada.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Cormark cut Lithium Americas from a "moderate buy" rating to a "hold" rating in a research note on Thursday. National Bankshares upped their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the stock a "sector perform" rating in a research note on Thursday. Canaccord Genuity Group cut 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. Finally, TD Cowen cut Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. 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 company. According to data from MarketBeat, Lithium Americas has a consensus rating of "Hold" and a consensus target price 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 stock has a market cap of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. The firm has a 50-day simple moving average of C$4.85 and a two-hundred day simple moving average of C$4.22.

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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