Equities analysts expect Lithium Americas Corp (NYSE:LAC) to announce sales of $1.10 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Lithium Americas’ earnings. The highest sales estimate is $1.30 million and the lowest is $900,000.00. Lithium Americas posted sales of $450,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 144.4%. The company is scheduled to report its next quarterly earnings results on Thursday, April 4th.
According to Zacks, analysts expect that Lithium Americas will report full year sales of $4.07 million for the current fiscal year, with estimates ranging from $3.70 million to $4.50 million. For the next year, analysts anticipate that the business will report sales of $4.80 million, with estimates ranging from $3.40 million to $7.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lithium Americas.
Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, November 13th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). Lithium Americas had a negative return on equity of 24.13% and a negative net margin of 639.66%. The company had revenue of $1.42 million during the quarter, compared to analysts’ expectations of $1.10 million.
LAC has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Lithium Americas in a research report on Wednesday, October 3rd. They issued a “buy” rating on the stock. Zacks Investment Research cut shares of Lithium Americas from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, BMO Capital Markets initiated coverage on shares of Lithium Americas in a research report on Monday, October 29th. They issued a “market perform” rating on the stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its stake in Lithium Americas by 8.4% in the third quarter. Morgan Stanley now owns 1,282,451 shares of the company’s stock worth $6,156,000 after acquiring an additional 99,588 shares during the period. Ibex Investors LLC purchased a new stake in Lithium Americas in the third quarter worth about $3,072,000. Waratah Capital Advisors Ltd. purchased a new stake in Lithium Americas in the third quarter worth about $2,946,000. Millennium Management LLC lifted its stake in Lithium Americas by 1,474.2% in the second quarter. Millennium Management LLC now owns 308,540 shares of the company’s stock worth $1,663,000 after acquiring an additional 288,940 shares during the period. Finally, UBS Group AG purchased a new stake in Lithium Americas in the first quarter worth about $216,000. Hedge funds and other institutional investors own 8.44% of the company’s stock.
Shares of LAC stock traded down $0.17 during mid-day trading on Tuesday, hitting $3.66. The company had a trading volume of 109,755 shares, compared to its average volume of 217,137. Lithium Americas has a 52-week low of $3.04 and a 52-week high of $10.95. The company has a debt-to-equity ratio of 0.11, a quick ratio of 8.20 and a current ratio of 8.57. The company has a market capitalization of $337.53 million and a PE ratio of -8.34.