Insider Selling: Lithium Americas (TSE:LAC) Insider Sells C$30,149.79 in Stock

Lithium Americas Corp. (TSE:LAC) insider Aubree Barnum sold 4,763 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the sale, the insider directly owned 66,397 shares in the company, valued at C$420,293.01. This represents a 6.69% decrease in their ownership of the stock.

Lithium Americas Trading Down 5.4%

Shares of TSE:LAC opened at C$6.66 on Tuesday. 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 stock’s 50-day moving average is C$8.16 and its 200-day moving average is C$5.76. The company has a market cap of C$2.02 billion, a P/E ratio of -6.17 and a beta of 1.26. Lithium Americas Corp. has a 52-week low of C$3.30 and a 52-week high of C$14.75.

Analysts Set New Price Targets

Several analysts have issued reports on LAC shares. Cormark upgraded shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a research report on Friday, November 21st. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 13th. Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the company a “hold” rating in a report on Wednesday, November 19th. National Bankshares raised their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 2nd. Finally, TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and a consensus price target of C$8.25.

About Lithium Americas

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s.