Atlas Lithium (NASDAQ:ATLX) Posts Earnings Results

Atlas Lithium (NASDAQ:ATLX) issued its quarterly earnings results on Friday. The company reported ($0.35) earnings per share for the quarter, Zacks reports.

Atlas Lithium Price Performance

Shares of NASDAQ:ATLX traded up $0.06 on Friday, reaching $3.21. 113,710 shares of the company traded hands, compared to its average volume of 554,127. Atlas Lithium has a fifty-two week low of $2.55 and a fifty-two week high of $8.25. The company’s 50 day moving average is $3.31 and its 200-day moving average is $4.28. The stock has a market capitalization of $94.66 million, a PE ratio of -2.11 and a beta of 0.02.

Wall Street Analysts Forecast Growth

ATLX has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.50 price objective on shares of Atlas Lithium in a research note on Tuesday, June 30th. Weiss Ratings cut Atlas Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Atlas Lithium from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Institutional Trading of Atlas Lithium

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of Atlas Lithium by 48.3% in the fourth quarter. Invesco Ltd. now owns 758,138 shares of the company’s stock worth $3,207,000 after buying an additional 247,064 shares during the period. Marshall Wace LLP boosted its position in shares of Atlas Lithium by 2.0% in the fourth quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock worth $2,598,000 after buying an additional 12,169 shares during the period. Weiss Asset Management LP purchased a new stake in Atlas Lithium in the 4th quarter worth about $1,107,000. Connective Capital Management LLC purchased a new position in Atlas Lithium during the third quarter valued at approximately $405,000. Finally, Goldman Sachs Group Inc. boosted its position in Atlas Lithium by 123.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 50,255 shares of the company’s stock valued at $213,000 after purchasing an additional 27,801 shares during the last quarter. Institutional investors and hedge funds own 18.35% of the company’s stock.

Atlas Lithium Company Profile

Atlas Lithium Corporation operates as a mineral exploration and development company in Brazil. It operates the Minas Gerais lithium project that consists of 54 mineral rights covering an area of 59,275 acres located within the Brazilian Eastern Pegmatitic Province; and Northeastern Brazil lithium project, which consists of 7 mineral rights covering an area of 16,266 acres in the States of Paraíba and Rio Grande do Norte in northeastern Brazil. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.