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

Shares of Lithium Americas Corp. (TSE:LAC) were up 32.2% during mid-day 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 changed hands during trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

A number of other research firms have also weighed in on LAC. TD Cowen lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. Finally, Canaccord Genuity Group lowered shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price objective for the company. in a research note on Thursday. One 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 company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of C$8.13.

Lithium Americas Stock Performance

The company’s fifty day simple moving average is C$4.85 and its 200 day simple moving average is 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 capitalization of C$3.05 billion, a P/E 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.