Lithium Americas (TSE:LAC) Shares Up 32.2% – Should You Buy?

Lithium Americas Corp. (TSE:LAC) 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 traded 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.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LAC shares. TD Cowen downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. National Bankshares increased their target price on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research report on Thursday. Canaccord Genuity Group lowered Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target on the stock. in a research report on Thursday. Finally, Cormark cut Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday. One 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

The stock has a market cap of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. The firm has a 50-day moving average price of C$4.85 and a 200-day moving average price of 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.

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.