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

Lithium Americas Corp. (TSE:LAC)’s stock price was up 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 changed hands 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 Analyst Weigh In

Several equities research analysts have recently commented on LAC shares. 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 note on Thursday. National Bankshares boosted their price target on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research note on Thursday. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday. Finally, TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$8.13.

Lithium Americas Price Performance

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 stock has a market capitalization of C$3.05 billion, a price-to-earnings ratio of -50.56 and a beta of 1.26. 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.