Lithium Americas (TSE:LAC) Stock Price Up 32.5% Following Analyst Upgrade

Lithium Americas Corp. (TSE:LAC) shares rose 32.5% 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$12.67. Approximately 7,097,550 shares traded hands during trading, an increase of 724% from the average daily volume of 860,834 shares. The stock had previously closed at C$9.56.

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

Lithium Americas Stock Performance

The business has a fifty day simple moving average of C$4.85 and a two-hundred day simple moving average of C$4.22. 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 company 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.