Lithium Americas (TSE:LAC) Shares Up 23.1% – Here’s Why

Lithium Americas Corp. (TSE:LAC) shares shot up 23.1% on Friday . The company traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares traded hands during mid-day trading, an increase of 1,318% from the average session volume of 733,440 shares. The stock had previously closed at C$8.35.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAC. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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 stock has a market cap of C$2.14 billion, a PE ratio of -35.36 and a beta of 1.26. The company’s 50 day simple moving average is C$4.33 and its 200 day simple moving average is C$4.04.

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.