Lithium Americas (TSE:LAC) Trading 6.9% Higher

Lithium Americas Corp. (TSE:LAC)’s share price traded up 6.9% during mid-day trading on Wednesday . The company traded as high as C$3.27 and last traded at C$3.27. 108,616 shares changed hands during trading, a decline of 85% from the average session volume of 707,800 shares. The stock had previously closed at C$3.06.

Analyst Ratings Changes

Several research firms have recently commented on LAC. Eight Capital upgraded shares of Lithium Americas to a “strong-buy” rating in a research note on Tuesday, May 14th. National Bankshares set a C$7.00 price target on Lithium Americas and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. National Bank Financial raised Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Finally, Piper Sandler downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$9.00.

Lithium Americas Trading Down 1.9 %

The firm has a market capitalization of C$680.16 million, a price-to-earnings ratio of -19.50 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a quick ratio of 52.06 and a current ratio of 20.15. The company has a 50 day moving average price of C$3.54 and a two-hundred day moving average price of C$5.48.

Lithium Americas (TSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported C($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.03) by C($0.04). On average, research analysts forecast that Lithium Americas Corp. will post 1.3803828 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Samuel William Pigott bought 30,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were acquired at an average price of C$3.60 per share, for a total transaction of C$108,000.00. In other Lithium Americas news, Senior Officer Samuel William Pigott bought 30,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of C$3.60 per share, with a total value of C$108,000.00. Also, Director John Kanellitsas bought 50,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of C$3.89 per share, with a total value of C$194,500.00. Insiders own 7.40% of the company’s stock.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.