Lithium Americas (TSE:LAC) Stock Price Up 32.2% Following Analyst Upgrade

Lithium Americas Corp. (TSE:LAC)’s stock price rose 32.2% 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$12.64. Approximately 7,329,801 shares were traded during trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

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

Lithium Americas Trading Up 32.2%

The business has a 50 day simple moving average of C$4.85 and a two-hundred day simple moving average of C$4.22. 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 stock has a market cap of C$3.05 billion, a price-to-earnings ratio of -50.56 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.