Lithium Americas (TSE:LAC) Shares Down 13.8% on Analyst Downgrade

Lithium Americas Corp. (TSE:LAC)’s stock price fell 13.8% on Friday after TD Cowen downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.84 and last traded at C$8.86. 3,253,634 shares were traded during trading, an increase of 338% from the average session volume of 742,500 shares. The stock had previously closed at C$10.28.

Separately, Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.50.

Lithium Americas Trading Down 14.0%

The business’s 50 day moving average price is C$4.33 and its two-hundred day moving average price is C$4.04. The company has a market capitalization of C$2.14 billion, a price-to-earnings ratio of -35.36 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.