Lithium Americas (LAC) Shares Up 6.5%

Shares of Lithium Americas Corp (TSE:LAC) shot up 6.5% during mid-day trading on Tuesday . The company traded as high as C$8.90 and last traded at C$8.90. 169,072 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 650,040 shares. The stock had previously closed at C$8.36.

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

The firm has a market capitalization of $839.10, a price-to-earnings ratio of -16.05 and a beta of 2.03.

Lithium Americas (TSE:LAC) last posted its quarterly earnings data on Tuesday, November 14th. The company reported C($0.04) earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of C$1.95 million.

In other Lithium Americas news, Director George R. Ireland acquired 15,000 shares of the stock in a transaction dated Monday, February 5th. The shares were bought at an average cost of C$6.20 per share, for a total transaction of C$93,000.00. Also, Director George R. Ireland bought 46,719 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average price of C$6.76 per share, for a total transaction of C$315,820.44. Insiders bought 92,919 shares of company stock worth $699,694 over the last quarter.

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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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