Insider Selling: Lithium Americas (TSE:LAC) Insider Sells 4,763 Shares of Stock

Lithium Americas Corp. (TSE:LAC) insider Aubree Barnum sold 4,763 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of C$6.33, for a total transaction of C$30,149.79. Following the completion of the transaction, the insider owned 66,397 shares in the company, valued at approximately C$420,293.01. The trade was a 6.69% decrease in their ownership of the stock.

Lithium Americas Trading Down 4.1%

LAC traded down C$0.30 on Friday, reaching C$7.04. 1,442,672 shares of the company traded hands, compared to its average volume of 1,083,198. Lithium Americas Corp. has a one year low of C$3.30 and a one year high of C$14.75. The firm has a fifty day simple moving average of C$8.26 and a two-hundred day simple moving average of C$5.72. The company has a market cap of C$2.14 billion, a P/E ratio of -6.52 and a beta of 1.26. 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

Several research firms have recently weighed in on LAC. Canaccord Genuity Group set a C$6.50 price target on shares of Lithium Americas and gave the company a “hold” rating in a research note on Wednesday, November 19th. National Bankshares raised their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the stock a “sector perform” rating in a report on Thursday, October 2nd. TD Cowen lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Scotiabank upgraded Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Finally, Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and a consensus 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.