Wall Street Zen lowered shares of Atlas Lithium (NASDAQ:ATLX – Free Report) from a sell rating to a strong sell rating in a research note released on Saturday.
Several other equities research analysts have also recently commented on ATLX. HC Wainwright reiterated a “buy” rating and issued a $12.50 price target on shares of Atlas Lithium in a research report on Tuesday, June 30th. Weiss Ratings lowered shares of Atlas Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.50.
View Our Latest Stock Analysis on ATLX
Atlas Lithium Stock Performance
Atlas Lithium (NASDAQ:ATLX – Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.35) earnings per share for the quarter. On average, equities research analysts forecast that Atlas Lithium will post -1.58 EPS for the current fiscal year.
Hedge Funds Weigh In On Atlas Lithium
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cross Staff Investments Inc raised its stake in Atlas Lithium by 0.7% during the 1st quarter. Cross Staff Investments Inc now owns 558,718 shares of the company’s stock valued at $2,430,000 after purchasing an additional 4,000 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Atlas Lithium in the fourth quarter worth $42,000. LPL Financial LLC acquired a new stake in shares of Atlas Lithium in the fourth quarter worth $43,000. Alps Advisors Inc. grew its holdings in shares of Atlas Lithium by 95.7% during the fourth quarter. Alps Advisors Inc. now owns 23,413 shares of the company’s stock valued at $99,000 after buying an additional 11,447 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Atlas Lithium by 2.0% during the fourth quarter. Marshall Wace LLP now owns 614,259 shares of the company’s stock valued at $2,598,000 after buying an additional 12,169 shares in the last quarter. 18.35% of the stock is currently owned by hedge funds and other institutional investors.
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. The company also owns 100% interests in various mining concessions for gold, diamond, and industrial sand; and early-stage projects and properties in other minerals, such as nickel, copper, rare earths, graphite, and titanium; as well as participates in iron and quartzite projects.
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