-$0.09 EPS Expected for Lithium Americas Corp (LAC) This Quarter

Wall Street analysts expect that Lithium Americas Corp (NYSE:LAC) will announce earnings of ($0.09) per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Lithium Americas’ earnings. Lithium Americas posted earnings of ($0.01) per share in the same quarter last year, which suggests a negative year over year growth rate of 800%. The business is scheduled to announce its next earnings report on Thursday, April 4th.

According to Zacks, analysts expect that Lithium Americas will report full-year earnings of ($0.25) per share for the current fiscal year, with EPS estimates ranging from ($0.30) to ($0.20). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.42) per share, with EPS estimates ranging from ($0.54) to ($0.34). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Lithium Americas.

Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, November 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.02). The business had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $1.10 million. Lithium Americas had a negative net margin of 639.66% and a negative return on equity of 24.13%.

A number of research firms have recently issued reports on LAC. Zacks Investment Research upgraded Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. BMO Capital Markets began coverage on Lithium Americas in a report on Monday, October 29th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group began coverage on Lithium Americas in a report on Wednesday, October 3rd. They issued a “buy” rating for the company.

Shares of LAC traded down $0.05 during mid-day trading on Friday, reaching $3.81. The company’s stock had a trading volume of 27,584 shares, compared to its average volume of 205,137. The firm has a market capitalization of $337.53 million and a P/E ratio of -8.66. Lithium Americas has a 1 year low of $3.04 and a 1 year high of $10.95. The company has a quick ratio of 8.20, a current ratio of 8.57 and a debt-to-equity ratio of 0.11.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAC. Millennium Management LLC purchased a new stake in shares of Lithium Americas in the first quarter valued at $106,000. Royal Bank of Canada purchased a new stake in shares of Lithium Americas in the first quarter valued at $210,000. UBS Group AG purchased a new stake in shares of Lithium Americas in the first quarter valued at $216,000. Waratah Capital Advisors Ltd. purchased a new stake in shares of Lithium Americas in the third quarter valued at $2,946,000. Finally, Ibex Investors LLC purchased a new stake in shares of Lithium Americas in the third quarter valued at $3,072,000. Institutional investors own 8.44% of the company’s stock.

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 the Lithium Nevada Project covering approximately 15,233 hectares of area located in northwestern Nevada.

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