Lithium Americas Corp (TSE:LAC) traded down 5.9% during trading on Monday . The stock traded as low as C$1.96 and last traded at C$1.99. 1,526,934 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,723,610 shares. The stock had previously closed at C$2.11.
A number of brokerages recently commented on LAC. National Bank Financial lifted their price objective on Lithium Americas Corp from C$1.90 to C$2.30 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Canaccord Genuity lowered Lithium Americas Corp from a “speculative buy” rating to a “hold” rating and lifted their target price for the stock from C$1.50 to C$1.90 in a report on Wednesday, October 11th.
The stock has a 50 day moving average of $1.72 and a 200-day moving average of $1.18. The company’s market cap is $883.19 million.
In related news, Director Franco Mignacco sold 25,000 shares of Lithium Americas Corp stock in a transaction that occurred on Friday, October 6th. The shares were sold at an average price of C$1.70, for a total value of C$42,500.00. Also, insider Eduard Epshtein sold 50,356 shares of Lithium Americas Corp stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of C$1.05, for a total transaction of C$52,873.80. In the last three months, insiders have acquired 128,920 shares of company stock worth $157,228 and have sold 246,478 shares worth $95,374.
About Lithium Americas Corp
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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