Lithium Americas (TSE:LAC) Trading Up 97.9% - Should You Buy?

Key Points

• Lithium Americas Corp. experienced a significant stock increase of 97.9%, reaching a last trading price of C$8.35, up from C$4.22.
• Analysts have upgraded Lithium Americas to a "moderate buy" rating, with a consensus target price of C$7.50.
• The company holds a 100% interest in the Thacker Pass project in Nevada and has substantial exploration properties in the U.S. and Canada.

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price was up 97.9% during mid-day trading on Thursday . The stock traded as high as C$8.75 and last traded at C$8.35. Approximately 12,966,430 shares were traded during trading, an increase of 1,804% from the average daily volume of 680,910 shares. The stock had previously closed at C$4.22.

Wall Street Analysts Forecast Growth

Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of "Moderate Buy" and an average target price of C$7.50.

Lithium Americas Stock Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The firm's 50-day moving average price is C$4.12 and its two-hundred day moving average price is C$3.96. The firm has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -33.40 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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