Lithium Americas (LAC) Gets a Buy Rating from Canaccord Genuity
In a report released yesterday, Katie Lachapelle from Canaccord Genuity maintained a Buy rating on Lithium Americas (LAC), with a price target of C$28.50. The company’s shares closed last Thursday at $12.33.
According to TipRanks.com, Lachapelle is a 5-star analyst with an average return of 59.7% and a 84.6% success rate. Lachapelle covers the Basic Materials sector, focusing on stocks such as Uranium Royalty Corp, Fission Uranium, and Uranium Energy.
Lithium Americas has an analyst consensus of Moderate Buy, with a price target consensus of $21.81.
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Based on Lithium Americas’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $9.74 million. In comparison, last year the company had a GAAP net loss of $6.18 million.
Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LAC in relation to earlier this year.
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Lithium Americas Corp. is a resource company, which engages in advancing lithium development projects. It operates through the following business segments: Organoclay, Lithium Nevada, and Cauchari-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.