Lithium Americas (LAC) Upgraded to “Speculative Buy” by Canaccord Genuity

Lithium Americas (TSE:LAC) was upgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “speculative buy” rating in a report released on Friday. The brokerage presently has a C$11.00 price objective on the stock, down from their previous price objective of C$12.00. Canaccord Genuity’s price objective suggests a potential upside of 13.64% from the stock’s current price.

Separately, National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and set a C$12.50 price target on the stock in a research report on Friday.

Lithium Americas (TSE LAC) opened at C$9.68 on Friday. The firm has a market cap of $856.43, a PE ratio of -16.69 and a beta of 2.50. Lithium Americas has a 52 week low of C$3.85 and a 52 week high of C$14.06.

Lithium Americas (TSE:LAC) last released its earnings results on Tuesday, November 14th. The company reported C($0.04) earnings per share 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%.

In other Lithium Americas news, Director Gabriel Rubacha purchased 15,000 shares of the stock in a transaction dated Friday, November 17th. The shares were bought at an average price of C$9.23 per share, with a total value of C$138,450.00. In the last three months, insiders bought 35,000 shares of company stock worth $290,650.

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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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