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

Lithium Americas Corp. (TSE:LAC) traded 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 were traded during 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

A number of brokerages recently weighed in on LAC. National Bankshares boosted their price target on shares of Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a report on Thursday. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. Cormark lowered shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday. Finally, Canaccord Genuity Group cut shares of Lithium Americas from a “moderate buy” rating to a “sell” rating and set a C$6.25 price target on the stock. in a report on Thursday. One investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of C$8.13.

Lithium Americas Price Performance

The stock 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 quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is C$4.85 and its two-hundred day simple moving average is 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.