Lithium Americas (LAC) Upgraded by Canaccord Genuity to Speculative Buy

Lithium Americas (TSE:LAC) was upgraded by Canaccord Genuity from a “hold” rating to a “speculative buy” rating in a research report issued to clients and investors on Friday. The firm presently has a C$11.00 price target on the stock, down from their previous price target of C$12.00. Canaccord Genuity’s price objective indicates a potential upside of 19.05% from the company’s current price.

Separately, National Bank Financial lifted their price objective on Lithium Americas from C$1.90 to C$2.30 and gave the stock an “outperform” rating in a report on Wednesday, October 25th.

Shares of Lithium Americas (LAC) traded down C$1.63 on Friday, reaching C$9.24. The company had a trading volume of 3,453,807 shares, compared to its average volume of 746,240. Lithium Americas has a 52 week low of C$3.85 and a 52 week high of C$14.06. The stock has a market cap of $867.05, a price-to-earnings ratio of -15.93 and a beta of 2.50.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Tuesday, November 14th. The company reported C($0.04) earnings per share for the quarter, topping the consensus estimate of C($0.05) by C$0.01. Lithium Americas had a negative return on equity of 52.25% and a negative net margin of 1,204.82%.

In related news, Director Gabriel Rubacha bought 15,000 shares of Lithium Americas stock in a transaction on Friday, November 17th. The stock was acquired at an average price of C$9.23 per share, with a total value of C$138,450.00. In the last three months, insiders purchased 35,000 shares of company stock valued at $290,650.

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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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