Lithium Americas (TSE:LAC) Stock Price Down 7% – Here’s Why

Lithium Americas Corp. (TSE:LAC) was down 7% on Monday . The stock traded as low as C$7.98 and last traded at C$8.22. Approximately 1,173,481 shares changed hands during trading, an increase of 54% from the average daily volume of 760,173 shares. The stock had previously closed at C$8.84.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on LAC shares. Cormark upgraded 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 research report on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$7.50.

Lithium Americas Trading Down 9.8%

The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of C$4.33 and a 200 day simple moving average of C$4.04. The firm has a market capitalization of C$1.93 billion, a P/E ratio of -31.88 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.