Lithium Americas Corp. (LAC) closed the most recent trading day at $3.26, moving +1.24% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.57%, and the technology-dominated Nasdaq saw a decrease of 0.33%.
The stock of lithium producer has risen by 14.59% in the past month, leading the Basic Materials sector's gain of 5.07% and the S&P 500's gain of 2.57%.
The investment community will be closely monitoring the performance of Lithium Americas Corp. in its forthcoming earnings report. The company is forecasted to report an EPS of -$0.05, showcasing a 400% downward movement from the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.19 per share and a revenue of $0 million, demonstrating changes of +9.52% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lithium Americas Corp. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 4.54% increase. Lithium Americas Corp. currently has a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 156, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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