Insider Selling: Lithium Americas (TSE:LAC) Insider Sells C$39,138.39 in Stock

Lithium Americas Corp. (TSE:LAC) insider Edward Grandy sold 6,183 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of C$6.33, for a total value of C$39,138.39. Following the transaction, the insider owned 135,466 shares in the company, valued at C$857,499.78. The trade was a 4.37% decrease in their ownership of the stock.

Lithium Americas Trading Down 5.4%

TSE LAC opened at C$6.66 on Tuesday. Lithium Americas Corp. has a 52 week low of C$3.30 and a 52 week high of C$14.75. The company has a market cap of C$2.02 billion, a price-to-earnings ratio of -6.17 and a beta of 1.26. The business has a 50 day moving average price of C$8.16 and a 200-day moving average price of C$5.76. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on LAC shares. Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. TD Cowen cut Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Canaccord Genuity Group set a C$6.50 price objective on Lithium Americas and gave the stock a “hold” rating in a report on Wednesday, November 19th. Finally, 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 report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.