Lithium Americas Corp (LAC) Downgraded by Canaccord Genuity to “Hold”
Canaccord Genuity downgraded shares of Lithium Americas Corp (TSE:LAC) from a speculative buy rating to a hold rating in a research note published on Wednesday morning. They currently have C$1.90 price target on the stock, up from their previous price target of C$1.50.
Separately, National Bank Financial lifted their price target on Lithium Americas Corp from C$1.65 to C$1.90 and gave the company an outperform rating in a research note on Thursday, September 14th.
Lithium Americas Corp (TSE:LAC) traded down 2.30% during trading on Wednesday, reaching $1.70. The company’s stock had a trading volume of 1,486,061 shares. The company’s 50 day moving average price is $1.48 and its 200-day moving average price is $1.09. Lithium Americas Corp has a 1-year low of $0.52 and a 1-year high of $1.80. The stock’s market cap is $743.28 million.
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In other news, Director George R. Ireland acquired 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were bought at an average price of C$0.91 per share, with a total value of C$91,000.00. Also, Director Franco Mignacco sold 25,000 shares of the firm’s stock in a transaction 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. In the last three months, insiders have purchased 423,920 shares of company stock worth $422,178 and have sold 296,478 shares worth $144,374.
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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