Lithium Americas (TSE:LAC) Trading 32.2% Higher – Here’s Why

Lithium Americas Corp. (TSE:LAC)’s share price shot up 32.2% during trading on Saturday . The company traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares traded hands during mid-day 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 brokerages have weighed in on LAC. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. National Bankshares increased 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 research report on Thursday. Canaccord Genuity Group downgraded shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 target price on the stock. in a research report on Thursday. Finally, Cormark lowered shares of 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 given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lithium Americas presently has an average rating of “Hold” and an average price target of C$8.13.

Lithium Americas Price Performance

The stock has a fifty day moving average of C$4.85 and a 200 day moving average of C$4.22. The stock has a market cap of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06.

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.