Lithium Americas (TSE:LAC) Trading 23.1% Higher – Time to Buy?

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

Several equities research analysts recently issued reports on LAC shares. TD Cowen lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas presently has a consensus rating of “Moderate Buy” and an average target price of C$7.50.

Lithium Americas Stock Down 14.0%

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