Lithium Americas (TSE:LAC) Trading Up 35% After Analyst Upgrade

Key Points

• Lithium Americas Corp. shares surged 35% after National Bankshares raised their price target from C$5.00 to C$10.00, with the stock last trading at C$12.91.
• The company's market cap stands at C$2.94 billion, with a current consensus rating of "Hold" and an average price target of C$8.13 based on multiple analysts' ratings.
• Lithium Americas is focused on the exploration and development of lithium properties, including a 100% interest in the Thacker Pass project in Nevada.

Shares of Lithium Americas Corp. (TSE:LAC - Get Free Report) rose 35% 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$12.95 and last traded at C$12.91. Approximately 3,442,046 shares traded hands during mid-day trading, an increase of 311% from the average daily volume of 836,920 shares. The stock had previously closed at C$9.56.

Other analysts have also recently issued reports about the company. 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 "speculative buy" rating to a "sell" rating and set a C$6.25 price objective on the stock. in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lithium Americas presently has a consensus rating of "Hold" and an average price target of C$8.13.

Lithium Americas Stock Up 27.2%

The company has a fifty day moving average of C$4.68 and a two-hundred day moving average of C$4.17. The company has a market cap of C$2.94 billion, a PE ratio of -48.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88.

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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