Canaccord Genuity Downgrades Lithium Americas Corp (LAC) to Hold
Lithium Americas Corp (TSE:LAC) was downgraded by investment analysts at Canaccord Genuity from a “speculative buy” rating to a “hold” rating in a report released on Wednesday. They presently have a C$1.90 price objective on the stock, up from their previous price objective of C$1.50. Canaccord Genuity’s price objective indicates a potential upside of 9.20% from the company’s previous close.
Separately, National Bank Financial boosted their target price on Lithium Americas Corp from C$1.65 to C$1.90 and gave the stock an “outperform” rating in a report on Thursday, September 14th.
Shares of Lithium Americas Corp (TSE LAC) traded down 1.14% during mid-day trading on Wednesday, reaching $1.74. 1,395,506 shares of the company traded hands. Lithium Americas Corp has a 52-week low of $0.52 and a 52-week high of $1.80. The company’s market capitalization is $760.76 million. The firm’s 50 day moving average price is $1.46 and its 200-day moving average price is $1.09.
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In other Lithium Americas Corp news, insider Tracy Hansen sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of C$0.98, for a total value of C$49,000.00. Also, Director William Thomas Hodgson purchased 70,000 shares of the firm’s stock in a transaction on Monday, September 25th. The stock was bought at an average price of C$1.46 per share, with a total value of C$102,200.00. In the last 90 days, insiders acquired 423,920 shares of company stock valued at $422,178 and sold 271,478 shares valued at $101,874.
Lithium Americas Corp 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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