Lithium Americas (TSE:LAC) Shares Up 32.2% After Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) shares shot up 32.2% 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$12.64. 7,329,801 shares were traded during mid-day trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Other equities research analysts have also recently issued research reports about the stock. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, Canaccord Genuity Group cut shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price objective on the stock. in a report on Thursday. One 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

The stock’s fifty day moving average price is C$4.85 and its 200 day moving average price is C$4.22. 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 stock has a market cap of C$3.05 billion, a PE ratio of -50.56 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.