Lithium Americas (TSE:LAC) Stock Price Up 97.9% – Still a Buy?

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

Analysts Set New Price Targets

Separately, Cormark upgraded Lithium Americas to a “moderate buy” rating in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$7.50.

Lithium Americas Stock Performance

The stock has a market cap of C$2.02 billion, a PE ratio of -33.40 and a beta of 1.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The business has a 50 day moving average price of C$4.12 and a two-hundred day moving average price of C$3.96.

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.