Lithium Americas (TSE:LAC) Insider Edward Grandy Sells 6,183 Shares

Lithium Americas Corp. (TSE:LAC) insider Edward Grandy sold 6,183 shares of the company’s 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$39,138.39. Following the completion of the transaction, the insider directly owned 135,466 shares in the company, valued at C$857,499.78. The trade was a 4.37% decrease in their position.

Lithium Americas Trading Down 4.1%

Shares of LAC traded down C$0.30 during trading on Friday, reaching C$7.04. 1,442,672 shares of the company traded hands, compared to its average volume of 1,083,198. The stock has a 50-day simple moving average of C$8.26 and a 200-day simple moving average of C$5.72. The stock has a market cap of C$2.14 billion, a PE ratio of -6.52 and a beta of 1.26. Lithium Americas Corp. has a twelve month low of C$3.30 and a twelve month high of C$14.75. The company has a quick ratio of 52.06, a current ratio of 13.88 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

A number of research analysts have commented on LAC shares. Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the stock a “hold” rating in a research note on Wednesday, November 19th. National Bankshares boosted their price objective on 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. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. TD Cowen downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Finally, Scotiabank raised shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of C$8.25.

Lithium Americas Company Profile

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.