Lithium Americas (TSE:LAC) Stock Price Up 32.2% – Time to Buy?

Lithium Americas Corp. (TSE:LAC) rose 32.2% during trading on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares were traded 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.

Analyst Ratings Changes

LAC has been the subject of several recent research reports. National Bankshares boosted their price target 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. TD Cowen cut 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 cut Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday. One investment 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, Lithium Americas currently has a consensus rating of “Hold” and an average target price of C$8.13.

Lithium Americas Trading Up 32.2%

The firm has a market cap of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. 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 50 day moving average of C$4.85 and a 200 day moving average of C$4.22.

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.