Lithium Americas Corp. (LAC) closed the most recent trading day at $3.20, moving -2.44% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.07%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq appreciated by 0.18%.
The lithium producer's shares have seen an increase of 26.15% over the last month, surpassing the Basic Materials sector's gain of 5.21% and the S&P 500's gain of 5.71%.
Analysts and investors alike will be keeping a close eye on the performance of Lithium Americas Corp. in its upcoming earnings disclosure. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.04 per share. This would mark year-over-year growth of 20%.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.18 per share and revenue of $0 million. These totals would mark changes of +14.29% and 0%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Lithium Americas Corp. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.99% higher. Lithium Americas Corp. is holding a Zacks Rank of #2 (Buy) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 164, positioning it in the bottom 34% 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.
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Lithium Americas Corp. (LAC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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