Lithium Americas (TSE:LAC) Shares Up 97.9% - Here's What Happened

Lithium Americas Corp. (TSE:LAC - Get Free Report) shares shot up 97.9% during trading on Wednesday . The company traded as high as C$8.75 and last traded at C$8.35. 12,966,430 shares traded hands during trading, an increase of 1,804% from the average session volume of 680,910 shares. The stock had previously closed at C$4.22.Get Lithium Americas alerts:Analyst Upgrades and DowngradesLithium Overdose: Can These 2 Lithium Stocks Recover in 2024? Separately, Cormark upgraded shares of Lithium Americas to a "moderate buy" rating in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Lithium Americas currently has an average rating of "Moderate Buy" and an average target price of C$7.50.Check Out Our Latest Research Report on Lithium AmericasLithium Americas Trading Up 97.9%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 has a market cap of C$2.02 billion, a PE ratio of -33.40 and a beta of 1.26. The stock's 50 day simple moving average is C$4.12 and its 200 day simple moving average is C$3.96. About Lithium Americas (Get Free Report)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.Read MoreFive stocks we like better than Lithium AmericasAsset Allocation Strategies in Volatile MarketsCybersecurity Market Set to Double: This ETF Offers ExposureWhat Does a Gap Up Mean in Stocks? How to Play the GapDowngraded But Not Done: 3 Stocks Ready for a Market ComebackDividend Capture Strategy: What You Need to KnowSolana Beat BTC and ETH in Q3: These 3 Stocks Saw It ComingThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Lithium Americas Right Now?Before you consider Lithium Americas, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lithium Americas wasn't on the list.While Lithium Americas currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here