Lithium Americas (LAC) Shares Up 15.3%
Lithium Americas Corp (TSE:LAC)’s share price shot up 15.3% during trading on Tuesday . The company traded as high as C$5.72 and last traded at C$5.72. 220,663 shares traded hands during mid-day trading, an increase of 55% from the average session volume of 142,194 shares. The stock had previously closed at C$4.96.
A number of brokerages have recently commented on LAC. Eight Capital lifted their target price on Lithium Americas from C$13.20 to C$13.75 in a report on Wednesday, April 3rd. National Bank Financial dropped their target price on Lithium Americas from C$10.00 to C$8.50 and set an “outperform” rating for the company in a report on Tuesday, April 2nd.
The company has a quick ratio of 9.58, a current ratio of 10.38 and a debt-to-equity ratio of 71.53. The company has a market capitalization of $503.13 million and a PE ratio of -16.83.
In other Lithium Americas news, Director Gabriel Rubacha purchased 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was purchased at an average cost of C$5.26 per share, with a total value of C$52,640.28. Following the purchase, the director now owns 220,400 shares of the company’s stock, valued at C$1,160,191.77.
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Lithium Americas Company Profile (TSE:LAC)
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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