In the latest close session, Lithium Americas Corp. (LAC) was down 6.97% at $3.07. The stock trailed the S&P 500, which registered a daily loss of 0.55%. Meanwhile, the Dow lost 0.19%, and the Nasdaq, a tech-heavy index, lost 0.95%.
Shares of the lithium producer witnessed a gain of 16.61% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.52%, and the S&P 500's gain of 3.64%.
Investors will be eagerly watching for the performance of Lithium Americas Corp. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.05, marking a 400% fall compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.19 per share and a revenue of $0 million, indicating changes of +9.52% and 0%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.93% higher. Lithium Americas Corp. presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 157, positioning it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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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