Lithium Americas (TSE:LAC) Stock Price Up 23.1% – Should You Buy?

Lithium Americas Corp. (TSE:LAC) shares shot up 23.1% on Friday . The stock traded as high as C$10.48 and last traded at C$10.28. 10,398,961 shares changed hands during 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

Several brokerages have weighed in on LAC. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday. 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 assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$7.50.

Lithium Americas Trading Down 14.0%

The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The company has a market cap of C$2.14 billion, a price-to-earnings ratio of -35.36 and a beta of 1.26. The company’s 50-day moving average is C$4.33 and its 200 day moving average is C$4.04.

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.