Richard Gerspacher Sells 6,118 Shares of Lithium Americas (TSE:LAC) Stock

Lithium Americas Corp. (TSE:LAC) insider Richard Gerspacher sold 6,118 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of C$6.33, for a total value of C$38,726.94. Following the completion of the transaction, the insider directly owned 84,443 shares in the company, valued at approximately C$534,524.19. This trade represents a 6.76% decrease in their position.

Lithium Americas Stock Down 4.1%

Shares of TSE:LAC opened at C$7.04 on Monday. The company has a market capitalization of C$2.14 billion, a price-to-earnings ratio of -6.52 and a beta of 1.26. Lithium Americas Corp. has a 12-month low of C$3.30 and a 12-month high of C$14.75. The business has a 50-day moving average price of C$8.26 and a 200 day moving average price of C$5.74. The company has a current ratio of 13.88, a quick ratio of 52.06 and a debt-to-equity ratio of 0.65.

Analyst Ratings Changes

LAC has been the subject of a number of recent analyst reports. TD Cowen cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 25th. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a report on Thursday, November 13th. Canaccord Genuity Group set a C$6.50 price target on Lithium Americas and gave the stock a “hold” rating in a research note on Wednesday, November 19th. National Bankshares lifted their price objective on Lithium Americas from C$5.00 to C$10.00 and gave the company a “sector perform” rating in a research note on Thursday, October 2nd. Finally, Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$8.25.

Lithium Americas Company Profile

Lithium Americas is developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, U.S. While the company has no current lithium production, we expect the first Argentina resource, Cauchari-Olaroz, to enter production in late 2022. We expect the Nevada project, Thacker Pass, to enter production in the middle of the 2020s and the second brine resource, Pastos Grandes, to enter production in the late-2020s.