Lithium Americas (TSE:LAC) Shares Up 32.2% – Here’s What Happened

Lithium Americas Corp. (TSE:LAC) shares shot up 32.2% during mid-day trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares changed hands during trading, an increase of 747% from the average session volume of 865,011 shares. The stock had previously closed at C$9.56.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LAC. National Bankshares upped their price objective on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a report on Thursday. TD Cowen downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Canaccord Genuity Group downgraded shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price objective on the stock. in a report on Thursday. Finally, Cormark downgraded shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$8.13.

Lithium Americas Trading Up 32.2%

The company’s fifty day moving average is C$4.85 and its two-hundred day moving average is C$4.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 52.06 and a current ratio of 13.88. The company 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.