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

Lithium Americas Corp. (TSE:LAC) rose 23.1% during trading on Friday . The stock traded as high as C$10.48 and last traded at C$10.28. Approximately 10,398,961 shares were traded during 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 Analysts Forecast Growth

LAC has been the subject of several research analyst reports. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Cormark upgraded Lithium Americas to a “moderate buy” rating in a 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’s stock. According to MarketBeat.com, Lithium Americas presently has a consensus rating of “Moderate Buy” and a consensus target price of C$7.50.

Lithium Americas Price Performance

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 business 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 market capitalization of C$2.14 billion, a price-to-earnings ratio of -35.36 and a beta of 1.26.

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.