Lithium Americas (TSE:LAC) Shares Up 29.1% Following Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) shot up 29.1% during trading on Friday after National Bankshares raised their price target on the stock from C$5.00 to C$10.00. National Bankshares currently has a sector perform rating on the stock. Lithium Americas traded as high as C$13.00 and last traded at C$12.34. 4,312,762 shares changed hands during trading, an increase of 409% from the average session volume of 847,862 shares. The stock had previously closed at C$9.56.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target on the stock. in a research report on Thursday. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$8.13.

Lithium Americas Stock Performance

The stock has a market cap of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The business has a 50 day moving average price of C$4.85 and a two-hundred day moving average price of C$4.22.

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.