Lithium Americas (TSE:LAC) Stock Price Up 23.1% – What’s Next?

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

Wall Street Analyst Weigh In

LAC has been the topic of a number of analyst reports. Cormark raised Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. TD Cowen cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$7.50.

Lithium Americas Trading Down 14.0%

The stock has a market capitalization of C$2.14 billion, a P/E ratio of -35.36 and a beta of 1.26. The stock has a 50-day moving average price of C$4.33 and a two-hundred day moving average price of C$4.04. 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.