FY2024 EPS Estimates for Atlas Lithium Lifted by Analyst

Atlas Lithium Co. (NASDAQ:ATLX) – Equities research analysts at Roth Capital boosted their FY2024 earnings per share estimates for shares of Atlas Lithium in a research note issued on Tuesday, November 12th. Roth Capital analyst J. Reagor now anticipates that the company will earn ($2.79) per share for the year, up from their previous forecast of ($3.09). The consensus estimate for Atlas Lithium’s current full-year earnings is ($2.93) per share. Roth Capital also issued estimates for Atlas Lithium’s Q4 2024 earnings at ($0.55) EPS, Q1 2025 earnings at ($0.30) EPS, Q4 2025 earnings at $0.55 EPS and FY2025 earnings at $0.42 EPS.

Atlas Lithium (NASDAQ:ATLX) last released its earnings results on Friday, November 8th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.04). The business had revenue of $0.17 million during the quarter.

Several other research analysts have also recently issued reports on ATLX. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 target price on shares of Atlas Lithium in a report on Tuesday, October 29th. Roth Mkm decreased their price objective on shares of Atlas Lithium from $36.00 to $25.50 and set a “buy” rating for the company in a report on Friday, July 26th.

Atlas Lithium Stock Performance

Shares of Atlas Lithium stock opened at $7.82 on Thursday. Atlas Lithium has a 1 year low of $6.25 and a 1 year high of $34.00. The firm’s 50-day moving average is $8.21 and its 200 day moving average is $10.73. The stock has a market cap of $119.26 million, a price-to-earnings ratio of -1.91 and a beta of -1.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.54 and a quick ratio of 6.15.

Institutional Trading of Atlas Lithium

A hedge fund recently raised its stake in Atlas Lithium stock. Cross Staff Investments Inc increased its stake in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 364,804 shares of the company’s stock after purchasing an additional 152,342 shares during the quarter. Atlas Lithium accounts for 1.9% of Cross Staff Investments Inc’s portfolio, making the stock its 9th largest position. Cross Staff Investments Inc owned about 2.46% of Atlas Lithium worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission. 18.35% of the stock is currently owned by institutional investors and hedge funds.

Atlas Lithium Company Profile

Atlas Lithium Corporation operates as a mineral exploration and development company in Brazil. It operates the Minas Gerais lithium project that consists of 54 mineral rights covering an area of 59,275 acres located within the Brazilian Eastern Pegmatitic Province; and Northeastern Brazil lithium project, which consists of 7 mineral rights covering an area of 16,266 acres in the States of Paraíba and Rio Grande do Norte in northeastern Brazil.