Lithium Americas (TSE:LAC) Trading Down 14% After Analyst Downgrade

Lithium Americas Corp. (TSE:LAC)’s stock price was down 14% during trading on Friday after TD Cowen downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as C$8.73 and last traded at C$8.84. Approximately 5,450,655 shares changed hands during mid-day trading, an increase of 618% from the average daily volume of 758,802 shares. The stock had previously closed at C$10.28.

Separately, Cormark raised Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$7.50.

Lithium Americas Stock Down 14.0%

The firm has a 50 day moving average of C$4.33 and a two-hundred day moving average of C$4.04. The stock has a market capitalization of C$2.14 billion, a PE ratio of -35.36 and a beta of 1.26. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

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.