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

Lithium Americas Corp. (TSE:LAC) was up 32.2% during mid-day trading on Saturday . The company traded as high as C$13.00 and last traded at C$12.64. Approximately 7,329,801 shares changed hands 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.

Analysts Set New Price Targets

A number of analysts have issued reports on LAC shares. Cormark cut shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday. Canaccord Genuity Group cut shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 target price for the company. in a research note on Thursday. TD Cowen lowered shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Finally, National Bankshares boosted their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$8.13.

Lithium Americas Trading Up 32.2%

The business has a 50 day moving average of C$4.85 and a 200-day moving average of C$4.22. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26.

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.