Insider Selling: Lithium Americas (TSE:LAC) Insider Sells C$38,726.94 in Stock

Lithium Americas Corp. (TSE:LAC) insider Richard Gerspacher sold 6,118 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of C$6.33, for a total transaction of C$38,726.94. Following the sale, the insider directly owned 84,443 shares of the company’s stock, valued at approximately C$534,524.19. The trade was a 6.76% decrease in their ownership of the stock.

Lithium Americas Stock Down 5.4%

Lithium Americas stock opened at C$6.66 on Tuesday. Lithium Americas Corp. has a 1-year low of C$3.30 and a 1-year high of C$14.75. The business has a fifty day moving average price of C$8.16 and a 200-day moving average price of C$5.76. The company has a debt-to-equity ratio of 0.65, a current ratio of 13.88 and a quick ratio of 52.06. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -6.17 and a beta of 1.26.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LAC. Cormark upgraded 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. National Bankshares boosted their target price on shares of Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research report on Thursday, October 2nd. Canaccord Genuity Group set a C$6.50 price target on shares of Lithium Americas and gave the company a “hold” rating in a report on Wednesday, November 19th. Finally, TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 25th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.