Zacks: Brokerages Anticipate Lithium Americas Corp (NYSE:LAC) to Post -$0.08 EPS

Analysts expect Lithium Americas Corp (NYSE:LAC) to report earnings per share of ($0.08) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lithium Americas’ earnings, with the highest EPS estimate coming in at ($0.04) and the lowest estimate coming in at ($0.12). Lithium Americas also reported earnings of ($0.08) per share in the same quarter last year. The firm is scheduled to issue its next 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 fiscal year, with EPS estimates ranging from ($0.40) to ($0.18). For the next fiscal year, analysts forecast 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 calculations are a mean average based on a survey of research analysts that that provide coverage for Lithium Americas.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $1.49 million for the quarter, compared to analyst estimates 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 shares of Lithium Americas from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Friday, August 23rd.

Institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Lithium Americas by 67.8% during the 2nd quarter. Van ECK Associates Corp now owns 1,853,084 shares of the company’s stock valued at $7,472,000 after acquiring an additional 748,999 shares during the last quarter. Morgan Stanley grew its stake in shares of Lithium Americas by 1.5% in the 2nd quarter. Morgan Stanley now owns 1,330,954 shares of the company’s stock valued at $5,390,000 after purchasing an additional 19,343 shares during the last quarter. Scotia Capital Inc. increased its holdings in shares of Lithium Americas by 101.3% in the second quarter. Scotia Capital Inc. now owns 546,365 shares of the company’s stock valued at $2,153,000 after purchasing an additional 274,960 shares during the period. Bank of America Corp DE increased its holdings in shares of Lithium Americas by 2.3% in the second quarter. Bank of America Corp DE now owns 217,600 shares of the company’s stock valued at $881,000 after purchasing an additional 4,838 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Lithium Americas in the second quarter valued at approximately $162,000. Institutional investors and hedge funds own 5.94% of the company’s stock.

LAC stock traded up $0.28 on Wednesday, hitting $3.52. The company’s stock had a trading volume of 219,569 shares, compared to its average volume of 176,999. The firm has a 50 day moving average of $3.48 and a two-hundred day moving average of $3.86. Lithium Americas has a 1 year low of $2.75 and a 1 year high of $5.12. The stock 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.

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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