In the latest trading session, Lithium Americas Corp. (LAC) closed at $3.28, marking a -1.5% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.01%. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, added 0.05%.
The stock of lithium producer has risen by 25.66% in the past month, leading the Basic Materials sector's gain of 1.67% and the S&P 500's gain of 5.37%.
The investment community will be closely monitoring the performance of Lithium Americas Corp. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.04, signifying a 20.00% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.18 per share and revenue of $0 million, indicating changes of +14.29% and 0%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lithium Americas Corp. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.6% rise in the Zacks Consensus EPS estimate. Lithium Americas Corp. is currently a Zacks Rank #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 150, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LAC in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lithium Americas Corp. (LAC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
