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

Lithium Americas Corp. (TSE:LAC)’s share price was up 32.2% during 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.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports 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 upped 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 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 price objective on the stock. in a report on Thursday. Finally, Cormark lowered shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lithium Americas presently has a consensus rating of “Hold” and an average price target of C$8.13.

Lithium Americas Stock Up 32.2%

The firm has a market capitalization of C$3.05 billion, a P/E ratio of -50.56 and a beta of 1.26. The firm’s 50 day moving average is C$4.85 and its two-hundred day moving average is C$4.22. 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.