Lithium Americas (LAC) Stock Rating Upgraded by Canaccord Genuity

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

Separately, National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and set a C$12.50 target price for the company in a research report on Friday.

Shares of Lithium Americas (LAC) traded down C$1.63 on Friday, reaching C$9.24. 3,453,807 shares of the company’s stock traded hands, compared to its average volume of 746,240. The stock has a market cap of $847.58, a PE ratio of -15.93 and a beta of 2.50. Lithium Americas has a fifty-two week low of C$3.85 and a fifty-two week high of C$14.06.

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

In related news, Director Gabriel Rubacha bought 15,000 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of C$9.23 per share, with a total value of C$138,450.00. Over the last ninety days, insiders bought 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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