Equities research analysts predict that Lithium Americas Corp (NYSE:LAC) will announce $1.55 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Lithium Americas’ earnings, with the lowest sales estimate coming in at $1.30 million and the highest estimate coming in at $1.80 million. Lithium Americas reported sales of $860,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 80.2%. The firm is expected to report its next quarterly earnings results on Tuesday, August 13th.
According to Zacks, analysts expect that Lithium Americas will report full year sales of $5.80 million for the current financial year, with estimates ranging from $5.10 million to $6.50 million. For the next financial year, analysts expect that the company will post sales of $12.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Lithium Americas.
Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Lithium Americas had a negative net margin of 560.33% and a negative return on equity of 26.10%. The firm had revenue of $1.28 million during the quarter, compared to the consensus estimate of $1.80 million.
Large investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Lithium Americas by 87.3% during the first quarter. Toronto Dominion Bank now owns 9,547 shares of the company’s stock worth $35,000 after acquiring an additional 4,451 shares during the period. Millennium Management LLC boosted its stake in shares of Lithium Americas by 37.8% during the fourth quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock valued at $62,000 after purchasing an additional 5,379 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Lithium Americas during the first quarter valued at approximately $224,000. 5.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:LAC traded down $0.01 during trading on Friday, reaching $3.98. The company’s stock had a trading volume of 4,148 shares, compared to its average volume of 97,320. 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’s 50 day moving average price is $3.94. The stock has a market cap 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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