Lithium Americas (LAC) Trading Down 2.9%

Shares of Lithium Americas Corp (TSE:LAC) traded down 2.9% during mid-day trading on Monday . The company traded as low as C$8.35 and last traded at C$8.36. 302,342 shares were traded during trading, a decline of 54% from the average session volume of 664,416 shares. The stock had previously closed at C$8.61.

A number of analysts have recently issued reports on the company. Canaccord Genuity upgraded Lithium Americas from a “hold” rating to a “speculative buy” rating and dropped their price target for the company from C$12.00 to C$11.00 in a research report on Friday, January 19th. National Bank Financial lifted their price target on Lithium Americas from C$1.90 to C$2.30 and gave the company an “outperform” rating in a research report on Wednesday, October 25th.

The stock has a market capitalization of $774.01, a PE ratio of -14.83 and a beta of 2.03.

Lithium Americas (TSE:LAC) last released its earnings results on Tuesday, November 14th. The company reported C($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of C($0.05) by C$0.01. The company had revenue of C$1.33 million during the quarter, compared to the consensus estimate of C$1.95 million. Lithium Americas had a negative return on equity of 52.25% and a negative net margin of 1,204.82%.

In related news, Director George R. Ireland purchased 46,719 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were acquired at an average cost of C$6.76 per share, with a total value of C$315,820.44. Also, Director George R. Ireland purchased 15,000 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of C$6.20 per share, for a total transaction of C$93,000.00. Insiders purchased a total of 92,919 shares of company stock valued at $699,694 in the last 90 days.

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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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