Lithium Americas (TSE:LAC) Shares Up 1.1% - Here's What Happened

Lithium Americas Corp. (TSE:LAC - Get Free Report)'s stock price rose 1.1% on Friday . The stock traded as high as C$4.85 and last traded at C$4.79. Approximately 74,435 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 737,114 shares. The stock had previously closed at C$4.74.

Analyst Upgrades and Downgrades

LAC has been the subject of several research reports. National Bank Financial upgraded Lithium Americas from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday. Piper Sandler downgraded Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 29th. Finally, National Bankshares upgraded shares of Lithium Americas from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from C$5.75 to C$7.25 in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$9.08.

Lithium Americas Price Performance

The firm has a fifty day moving average of C$3.59 and a 200 day moving average of C$4.56. The company has a current ratio of 20.15, a quick ratio of 52.06 and a debt-to-equity ratio of 0.69. The company has a market capitalization of C$1.11 billion, a P/E ratio of -31.69 and a beta of 1.58.

Lithium Americas (TSE:LAC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported C($0.07) earnings per share for the quarter, missing analysts' consensus estimates of C($0.03) by C($0.04). On average, equities research analysts anticipate that Lithium Americas Corp. will post 1.3803828 EPS for the current year.

Insider Activity

In related news, Senior Officer Oleksandr Shulga sold 24,862 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of C$3.40, for a total value of C$84,530.80. Insiders own 7.40% of the company's stock.

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.