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. Zero analysts have provided estimates for Lithium Americas’ earnings. Lithium Americas reported earnings per share of ($0.06) during the same quarter last year, which suggests a negative year over year growth rate of 16.7%. The firm is scheduled to issue its next earnings report on Tuesday, November 10th.
On average, analysts expect that Lithium Americas will report full year earnings of ($0.40) per share for the current year, with EPS estimates ranging from ($0.53) to ($0.26). For the next financial year, analysts forecast that the business will report earnings of ($0.55) per share. 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 issued its quarterly earnings results on Friday, August 14th. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.01.
A number of equities research analysts have weighed in on LAC shares. ValuEngine downgraded Lithium Americas from a “buy” rating to a “hold” rating in a report on Thursday, July 2nd. BMO Capital Markets boosted their price objective on Lithium Americas from $4.40 to $5.00 and gave the company a “market perform” rating in a report on Thursday, June 25th. Zacks Investment Research downgraded Lithium Americas from a “hold” rating to a “sell” rating in a report on Friday, September 11th. Finally, National Bank Financial lifted their target price on Lithium Americas from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th.
A number of hedge funds have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of Lithium Americas by 2.2% during the 1st quarter. Morgan Stanley now owns 2,100,540 shares of the company’s stock valued at $5,587,000 after buying an additional 45,234 shares during the last quarter. Scotia Capital Inc. lifted its position in shares of Lithium Americas by 4.9% during the 2nd quarter. Scotia Capital Inc. now owns 669,888 shares of the company’s stock valued at $3,494,000 after buying an additional 31,156 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Lithium Americas by 4.5% during the 2nd quarter. Bank of America Corp DE now owns 235,132 shares of the company’s stock valued at $1,192,000 after buying an additional 10,228 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Lithium Americas during the 2nd quarter valued at $870,000. Finally, Swiss National Bank lifted its position in shares of Lithium Americas by 16.4% during the 2nd quarter. Swiss National Bank now owns 112,700 shares of the company’s stock valued at $577,000 after buying an additional 15,900 shares during the last quarter. 4.68% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lithium Americas stock traded up $2.20 during midday trading on Friday, reaching $14.70. The company had a trading volume of 27,109,653 shares, compared to its average volume of 1,383,797. The stock has a fifty day moving average price of $8.17 and a 200 day moving average price of $5.19. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 4.05. The firm has a market cap of $1.34 billion, a PE ratio of 32.67 and a beta of 1.82. Lithium Americas has a fifty-two week low of $1.92 and a fifty-two week high of $15.30.
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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