Lithium Americas (TSE:LAC) Trading Up 23.1% – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Lithium Americas Price Performance

The stock’s 50-day simple moving average is C$4.33 and its 200 day simple moving average is C$4.04. 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.

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.