Lithium Americas (TSE:LAC) Shares Down 11.8% – Here’s What Happened

Lithium Americas Corp. (TSE:LAC)’s share price fell 11.8% during mid-day trading on Monday . The company traded as low as C$7.78 and last traded at C$7.80. 2,029,111 shares traded hands during mid-day trading, an increase of 165% from the average session volume of 764,481 shares. The stock had previously closed at C$8.84.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LAC. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. TD Cowen downgraded shares of 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 issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Lithium Americas has an average rating of “Moderate Buy” and a consensus price target of C$7.50.

Lithium Americas Stock 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 firm’s 50 day moving average is C$4.33 and its 200-day moving average is C$4.04. The stock has a market capitalization of C$1.93 billion, a price-to-earnings ratio of -31.96 and a beta of 1.26.

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.