Decade Renewable Partners LP Grows Stock Position in Lithium Americas Corp. $LAC

Key Points

• Decade Renewable Partners LP increased its stake in Lithium Americas Corp. by 51.7%, acquiring an additional 231,900 shares, bringing its total holdings to 680,100 shares.
• Analysts anticipate that Lithium Americas will report -0.12 earnings per share for the current fiscal year, with a consensus price target of $4.15.
• The stock opened at $3.00 with a market capitalization of $723.77 million, showing a range between a 1-year low of $2.11 and a high of $5.20.

Decade Renewable Partners LP boosted its stake in Lithium Americas Corp. (NYSE:LAC - Free Report) by 51.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 680,100 shares of the company's stock after acquiring an additional 231,900 shares during the period. Lithium Americas accounts for about 1.4% of Decade Renewable Partners LP's holdings, making the stock its 23rd biggest position. Decade Renewable Partners LP owned about 0.31% of Lithium Americas worth $1,843,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Cacti Asset Management LLC purchased a new stake in shares of Lithium Americas in the first quarter worth about $27,000. Members Wealth LLC bought a new stake in Lithium Americas during the 1st quarter valued at $27,000. Ping Capital Management Inc. bought a new stake in shares of Lithium Americas in the 1st quarter worth approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Lithium Americas in the first quarter worth about $27,000. Finally, Mariner LLC purchased a new stake in shares of Lithium Americas in the 4th quarter worth approximately $31,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on LAC. Wedbush reaffirmed a "neutral" rating and issued a $5.00 price objective on shares of Lithium Americas in a report on Friday, May 16th. National Bankshares cut shares of Lithium Americas from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 16th. National Bank Financial lowered shares of Lithium Americas from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Cormark raised Lithium Americas to a "moderate buy" rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $4.15.

Lithium Americas Stock Up 0.9%

LAC stock traded up $0.03 during midday trading on Wednesday, reaching $2.86. The stock had a trading volume of 3,973,515 shares, compared to its average volume of 7,168,020. The company's fifty day simple moving average is $2.85 and its 200 day simple moving average is $2.82. Lithium Americas Corp. has a 52-week low of $2.11 and a 52-week high of $5.20. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33.

Lithium Americas (NYSE:LAC - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Equities analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Lithium Americas Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.