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

Lithium Americas Corp. (TSE:LAC)’s stock price traded up 23.1% during 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 Analysts Forecast Growth

Several analysts have recently issued reports 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 Lithium Americas to a “moderate buy” rating in a research note 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$7.50.

Lithium Americas Trading Down 14.0%

The stock has a fifty day moving average of C$4.33 and a 200-day moving average of C$4.04. The company has a market cap of C$2.14 billion, a PE ratio of -35.36 and a beta of 1.26. 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.