FY2024 EPS Estimate for Atlas Lithium Increased by Analyst

Atlas Lithium Co. (NASDAQ:ATLX) – Research analysts at Roth Capital raised their FY2024 earnings estimates for shares of Atlas Lithium in a research note issued on Tuesday, November 12th. Roth Capital analyst J. Reagor now forecasts that the company will post earnings per share of ($2.79) for the year, up from their prior 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.

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

Atlas Lithium Price Performance

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

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

Institutional Investors Weigh In On Atlas Lithium

An institutional investor recently raised its position in Atlas Lithium stock. Cross Staff Investments Inc boosted its stake in Atlas Lithium Co. (NASDAQ:ATLX) by 71.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 364,804 shares of the company’s stock after acquiring an additional 152,342 shares during the period. Atlas Lithium accounts for approximately 1.9% of Cross Staff Investments Inc’s holdings, making the stock its 9th biggest holding. Cross Staff Investments Inc owned 2.46% of Atlas Lithium worth $2,481,000 as of its most recent SEC filing. 18.35% of the stock is currently owned by hedge funds and other institutional investors.

About Atlas Lithium

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.