Lithium Americas (LAC) Stock Price Down 6.2%

Shares of Lithium Americas Corp (TSE:LAC) dropped 6.2% during mid-day trading on Monday . The stock traded as low as C$9.04 and last traded at C$9.09. Approximately 322,383 shares changed hands during trading, a decline of 49% from the average daily volume of 636,721 shares. The stock had previously closed at C$9.69.

LAC has been the topic of several analyst reports. National Bank Financial increased their price target 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. Canaccord Genuity upgraded shares of Lithium Americas from a “hold” rating to a “speculative buy” rating and reduced their price target for the stock from C$12.00 to C$11.00 in a research report on Friday, January 19th.

The stock has a market cap of $804.28, a PE ratio of -15.41 and a beta of 2.03.

In other news, Director George R. Ireland purchased 15,000 shares of Lithium Americas stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of C$6.20 per share, for a total transaction of C$93,000.00. Also, Director George R. Ireland purchased 46,719 shares of Lithium Americas 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 have purchased a total of 62,919 shares of company stock worth $417,094 in the last quarter.

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About Lithium Americas

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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