Brokerages expect that Lithium Americas Corp (NYSE:LAC) will announce sales of $1.10 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Lithium Americas’ earnings, with the highest sales estimate coming in at $1.30 million and the lowest estimate coming in at $900,000.00. Lithium Americas reported sales of $450,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 144.4%. The company is scheduled to issue its next earnings report on Thursday, April 4th.
On average, analysts expect that Lithium Americas will report full-year sales of $4.07 million for the current year, with estimates ranging from $3.70 million to $4.50 million. For the next year, analysts anticipate that the company will report sales of $4.80 million, with estimates ranging from $3.40 million to $7.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Lithium Americas.
Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Tuesday, November 13th. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). Lithium Americas had a negative return on equity of 24.13% and a negative net margin of 639.66%. The company had revenue of $1.42 million for the quarter, compared to analysts’ expectations of $1.10 million.
LAC has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Lithium Americas in a research note on Wednesday, October 3rd. They set a “buy” rating for the company. Zacks Investment Research cut Lithium Americas from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Finally, BMO Capital Markets initiated coverage on Lithium Americas in a research note on Monday, October 29th. They set a “market perform” rating for the company.
A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley grew its stake in shares of Lithium Americas by 8.4% in the third quarter. Morgan Stanley now owns 1,282,451 shares of the company’s stock valued at $6,156,000 after buying an additional 99,588 shares in the last quarter. Millennium Management LLC grew its stake in shares of Lithium Americas by 1,474.2% in the second quarter. Millennium Management LLC now owns 308,540 shares of the company’s stock valued at $1,663,000 after buying an additional 288,940 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in shares of Lithium Americas in the third quarter valued at $2,946,000. Finally, Ibex Investors LLC acquired a new stake in shares of Lithium Americas in the third quarter valued at $3,072,000. 6.24% of the stock is owned by institutional investors.
Lithium Americas stock traded up $0.02 during trading on Friday, reaching $3.35. 56,572 shares of the company were exchanged, compared to its average volume of 124,188. Lithium Americas has a 52-week low of $2.75 and a 52-week high of $9.48. The company has a market cap of $303.43 million and a price-to-earnings ratio of -7.61. The company has a debt-to-equity ratio of 0.11, a quick ratio of 8.20 and a current ratio of 8.57.
About Lithium Americas
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 the Lithium Nevada Project covering approximately 15,233 hectares of area located in northwestern Nevada.
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