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

Lithium Americas Corp. (TSE:LAC) shares shot up 32.2% on Saturday . The stock traded as high as C$13.00 and last traded at C$12.64. 7,329,801 shares traded hands during mid-day 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 Analyst Weigh In

Several analysts have recently issued reports on the stock. Canaccord Genuity Group lowered 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 research report on Thursday. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. Cormark downgraded Lithium Americas from a “moderate buy” rating to a “hold” rating in a research report on Thursday. Finally, National Bankshares lifted 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of C$8.13.

Lithium Americas Stock Up 32.2%

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 firm has a market capitalization of C$3.05 billion, a PE ratio of -50.56 and a beta of 1.26. The company’s 50 day simple moving average is C$4.85 and its 200-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.