$1.55 Million in Sales Expected for Lithium Americas Corp (NYSE:LAC) This Quarter

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.

A number of equities analysts have recently commented on the stock. National Bank Financial reaffirmed a “buy” rating on shares of North American Construction Group in a research report on Tuesday, April 2nd. Zacks Investment Research raised shares of Investar from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Tuesday, June 4th.

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.

Further Reading: How to invest in blue-chip stocks

Get a free copy of the Zacks research report on Lithium Americas (LAC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lithium Americas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Americas and related companies with MarketBeat.com's FREE daily email newsletter.


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit