Lithium Americas (TSE:LAC) Trading 97.9% Higher – Here’s Why

Lithium Americas Corp. (TSE:LAC)’s stock price shot up 97.9% during mid-day trading on Thursday . The stock traded as high as C$8.75 and last traded at C$8.35. 12,966,430 shares traded hands during trading, an increase of 1,804% from the average session volume of 680,910 shares. The stock had previously closed at C$4.22.

Analyst Ratings Changes

Several research firms have recently issued reports on LAC. Cormark raised Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$7.50.

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 company has a 50-day simple moving average of C$4.33 and a 200-day simple moving average of C$4.04. The company has a market cap of C$2.14 billion, a price-to-earnings ratio of -35.36 and a beta of 1.26.

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.