Lithium Americas Corp (TSE:LAC) traded down 3.7% on Wednesday . The company traded as low as C$12.80 and last traded at C$13.75. 609,718 shares changed hands during trading, an increase of 138% from the average session volume of 255,973 shares. The stock had previously closed at C$13.26.
LAC has been the topic of several recent analyst reports. National Bank Financial upped their target price on Lithium Americas from C$1.40 to C$1.65 and gave the company an “outperform” rating in a research report on Friday, September 8th. Canaccord Genuity lowered Lithium Americas from a “speculative buy” rating to a “hold” rating and upped their target price for the company from C$1.50 to C$1.90 in a research report on Wednesday, October 11th.
In related news, Director William Thomas Hodgson bought 70,000 shares of the company’s stock in a transaction that occurred on Monday, September 25th. The shares were purchased at an average cost of C$1.46 per share, with a total value of C$102,200.00. Also, Director Franco Mignacco sold 25,000 shares of the stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of C$1.70, for a total value of C$42,500.00. Insiders bought 105,000 shares of company stock worth $392,850 over the last three months.
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Lithium Americas Company Profile
Lithium Americas Corp., formerly Western Lithium USA Corp., is a resource company. The Company is focused on development of two lithium development projects: the Cauchari-Olaroz project, which is located in Jujuy province of Argentina and the Lithium Nevada project, which is located in north-western Nevada, the United States.
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