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

Lithium Americas Corp. (TSE:LAC)’s share price rose 32.2% on Saturday . The company traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares were traded during trading, an increase of 747% from the average daily volume of 865,011 shares. The stock had previously closed at C$9.56.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LAC. National Bankshares raised 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 report on Thursday. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Canaccord Genuity Group lowered 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. 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. According to data from MarketBeat, the stock 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 capitalization of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26. The business has a 50-day moving average of C$4.85 and a two-hundred day moving average of C$4.22. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

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.