Lithium Americas Corp (NYSE:LAC) Expected to Post Earnings of -$0.08 Per Share

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Wall Street analysts expect that Lithium Americas Corp (NYSE:LAC) will report ($0.08) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Lithium Americas’ earnings. The highest EPS estimate is ($0.04) and the lowest is ($0.12). Lithium Americas also reported earnings of ($0.08) per share during the same quarter last year. The business is scheduled to report its next quarterly earnings results on Tuesday, November 12th.

On average, analysts expect that Lithium Americas will report full-year earnings of ($0.31) per share for the current year, with EPS estimates ranging from ($0.40) to ($0.18). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.54) per share, with EPS estimates ranging from ($0.72) to ($0.35). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Lithium Americas.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.07) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.07). The company had revenue of $1.49 million during the quarter, compared to analysts’ expectations of $1.55 million. Lithium Americas had a negative net margin of 497.84% and a negative return on equity of 27.94%.

Separately, Zacks Investment Research upgraded Lithium Americas from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Friday, August 23rd.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Toronto Dominion Bank lifted 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 purchasing an additional 4,451 shares in the last quarter. Signition LP purchased a new position in shares of Lithium Americas during the second quarter worth about $48,000. A.R.T. Advisors LLC purchased a new position in Lithium Americas during the 2nd quarter worth approximately $50,000. Citadel Advisors LLC increased its position in Lithium Americas by 34.6% during the second quarter. Citadel Advisors LLC now owns 16,735 shares of the company’s stock worth $68,000 after buying an additional 4,301 shares during the period. Finally, Millennium Management LLC increased its position in Lithium Americas by 37.8% during the fourth quarter. Millennium Management LLC now owns 19,605 shares of the company’s stock worth $62,000 after buying an additional 5,379 shares during the period. 5.94% of the stock is owned by institutional investors and hedge funds.

Shares of LAC stock traded up $0.28 during trading hours on Wednesday, reaching $3.52. 219,569 shares of the company’s stock were exchanged, compared to its average volume of 176,999. The stock’s 50 day moving average is $3.48 and its 200-day moving average is $3.86. The company has a market cap of $288.52 million, a price-to-earnings ratio of -13.54 and a beta of 1.34. The company has a current ratio of 7.87, a quick ratio of 7.55 and a debt-to-equity ratio of 1.13. Lithium Americas has a fifty-two week low of $2.75 and a fifty-two week high of $5.12.

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 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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