Lithium Americas Corp. (LAC) closed at $2.55 in the latest trading session, marking a -3.41% move from the prior day. This change lagged the S&P 500's daily loss of 0.13%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq added 0.15%.
Prior to today's trading, shares of the lithium producer had lost 0.38% lagged the Basic Materials sector's gain of 1.43% and the S&P 500's gain of 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.04, up 20% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.18 per share and a revenue of $0 million, indicating changes of +14.29% and 0%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.99% increase. Lithium Americas Corp. is currently sporting a Zacks Rank of #2 (Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 31% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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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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