Lithium Americas Corp. (TSE:LAC) shot up 11.7% during trading on Tuesday . The stock traded as high as C$29.04 and last traded at C$28.67. 433,321 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 758,243 shares. The stock had previously closed at C$25.67.
Several brokerages have commented on LAC. Cormark reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Tuesday. JPMorgan Chase & Co. set a C$35.00 price objective on Lithium Americas and gave the stock an “overweight” rating in a report on Friday, October 1st. Canaccord Genuity lifted their price objective on Lithium Americas to C$32.00 in a report on Thursday, August 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Lithium Americas in a research note on Tuesday. Finally, National Bank Financial reaffirmed an “outperform spec overweight” rating on shares of Lithium Americas in a research note on Tuesday, June 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$28.80.
The company has a debt-to-equity ratio of 29.33, a current ratio of 56.73 and a quick ratio of 56.64. The company has a market cap of C$3.82 billion and a price-to-earnings ratio of -59.26. The business has a 50 day simple moving average of C$25.45 and a 200 day simple moving average of C$20.36.
About Lithium Americas (TSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and Thacker Pass project located in north-western Nevada. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp.
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