Lithium Americas Corp (TSE:LAC) shares fell 2.9% during mid-day trading on Monday . The company traded as low as C$8.35 and last traded at C$8.36. 302,342 shares changed hands during trading, a decline of 54% from the average session volume of 664,416 shares. The stock had previously closed at C$8.61.

A number of brokerages have issued reports on LAC. Canaccord Genuity upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating and decreased their target price for the stock from C$12.00 to C$11.00 in a research report on Friday, January 19th. National Bank Financial increased their target price on shares of Lithium Americas from C$1.90 to C$2.30 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th.

The stock has a market capitalization of $759.15, a price-to-earnings ratio of -14.17 and a beta of 2.03.

Lithium Americas (TSE:LAC) last issued its quarterly earnings results on Tuesday, November 14th. The company reported C($0.04) earnings per share for the quarter, topping the Zacks’ 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%. The company had revenue of C$1.33 million during the quarter, compared to the consensus estimate of C$1.95 million.

In other news, Director Gabriel Rubacha purchased 15,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was bought at an average price of C$9.23 per share, with a total value of C$138,450.00. Also, Director George R. Ireland purchased 46,719 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were purchased at an average cost of C$6.76 per share, with a total value of C$315,820.44. In the last ninety days, insiders have bought 92,919 shares of company stock valued at $699,694.

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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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