Lithium Americas (TSE:LAC) Trading 32.2% Higher Following Analyst Upgrade

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

Several other equities analysts also recently commented on LAC. TD Cowen downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Canaccord Genuity Group cut Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target for the company. in a research note on Thursday. Finally, Cormark raised Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. 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 MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$8.13.

Lithium Americas Price Performance

The stock has a market cap of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. The business has a 50-day simple moving average of C$4.85 and a 200 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.

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.