Wall Street brokerages predict that Lithium Americas Corp (NYSE:LAC) will announce earnings per share of ($0.07) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lithium Americas’ earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.09). Lithium Americas reported earnings per share of ($0.08) during the same quarter last year, which suggests a positive year over year growth rate of 12.5%. The firm is scheduled to issue its next earnings report on Tuesday, August 13th.
On average, analysts expect that Lithium Americas will report full year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.42) to ($0.18). For the next financial year, analysts forecast that the business will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.72) to ($0.35). Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Lithium Americas.
Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. Lithium Americas had a negative return on equity of 26.10% and a negative net margin of 560.33%. The business had revenue of $1.28 million for the quarter, compared to analyst estimates of $1.80 million.
Several equities analysts recently issued reports on LAC shares. Zacks Investment Research upgraded Investar from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Tuesday, June 4th. National Bank Financial restated a “buy” rating on shares of North American Construction Group in a research report on Tuesday, April 2nd.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in Lithium Americas by 87.3% in the 1st quarter. Toronto Dominion Bank now owns 9,547 shares of the company’s stock worth $35,000 after buying an additional 4,451 shares during the period. Millennium Management LLC lifted its holdings in Lithium Americas by 37.8% in the 4th quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock worth $62,000 after buying an additional 5,379 shares during the period. Virtu Financial LLC purchased a new stake in Lithium Americas in the 1st quarter worth approximately $224,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Lithium Americas in the 4th quarter worth approximately $2,519,000. Institutional investors and hedge funds own 5.47% of the company’s stock.
LAC traded down $0.01 on Friday, hitting $3.98. 4,148 shares of the company were exchanged, compared to its average volume of 97,320. The stock’s fifty day moving average price is $3.94. The company has a quick ratio of 9.93, a current ratio of 10.38 and a debt-to-equity ratio of 0.70. Lithium Americas has a 12 month low of $2.75 and a 12 month high of $5.21. The company has a market capitalization of $354.99 million, a PE ratio of -15.29 and a beta of 1.32.
Lithium Americas Company Profile
Lithium Americas Corp. operates as a resource company in the United States. The company explores for lithium deposits. It primarily holds interests in the Cauchari-Olaroz Project located in Jujuy province of Argentina; and owns a 100% interest in the Thacker Pass lithium project located in Nevada. The company also manufactures and sells organoclay products that are used in complex oil and gas drilling and other applications.
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