Lithium Americas (TSE:LAC) Stock Price Up 32.2% – Still a Buy?

Lithium Americas Corp. (TSE:LAC)’s share price shot up 32.2% on Saturday . The company 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 analysts have weighed in on LAC shares. National Bankshares lifted their target price on Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday. Canaccord Genuity Group downgraded Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target for the company. in a report on Thursday. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Finally, Cormark cut shares of Lithium Americas from a “moderate buy” rating to a “hold” rating 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$8.13.

Lithium Americas Stock Up 32.2%

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 firm has a market capitalization of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26. The firm has a fifty day moving average price of C$4.85 and a 200 day moving average price of C$4.22.

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.