Lithium Americas (TSE:LAC) Shares Up 35% on Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) shares shot up 35% 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$12.95 and last traded at C$12.91. 3,442,046 shares were traded during mid-day trading, an increase of 311% from the average session volume of 836,920 shares. The stock had previously closed at C$9.56.

LAC has been the subject of a number of other reports. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Cormark upgraded Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. Finally, Canaccord Genuity Group downgraded Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target for the company. in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus target price of C$8.13.

Lithium Americas Trading Up 32.2%

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 business’s 50-day simple moving average is C$4.85 and its two-hundred day simple moving average is C$4.22. The company has a market capitalization 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.