Atlas Lithium (NASDAQ:ATLX) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Key Points

• Atlas Lithium reported a quarterly loss of ($0.31) EPS with a negative net margin of 8,115.34% and a return on equity of (166.50%).
• The company's stock increased by 21.1%, closing at $5.26 with a trading volume significantly above its average.
• Atlas Lithium operates mineral exploration projects in Brazil, with major holdings in the Minas Gerais and Northeastern Brazil lithium regions.

Atlas Lithium (NASDAQ:ATLX - Get Free Report) released its earnings results on Monday. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.59) by $0.28, Zacks reports. The company had revenue of $0.03 million during the quarter, compared to analyst estimates of $24.00 million. Atlas Lithium had a negative return on equity of 143.98% and a negative net margin of 9,881.20%.

Atlas Lithium Stock Down 6.3%

Shares of ATLX traded down $0.39 during mid-day trading on Friday, reaching $5.80. The company's stock had a trading volume of 477,711 shares, compared to its average volume of 549,616. The business has a fifty day moving average of $4.45 and a 200 day moving average of $4.77. The company has a market cap of $113.56 million, a price-to-earnings ratio of -2.66 and a beta of -0.83. Atlas Lithium has a 1 year low of $3.54 and a 1 year high of $12.48. The company has a quick ratio of 2.26, a current ratio of 2.16 and a debt-to-equity ratio of 0.38.

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.