In the latest trading session, Lithium Americas Corp. (LAC) closed at $6.69, marking a -3.6% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.53%. On the other hand, the Dow registered a loss of 0.71%, and the technology-centric Nasdaq decreased by 0.93%.
Shares of the lithium producer have appreciated by 126.06% over the course of the past month, outperforming the Basic Materials sector's loss of 3.28%, and the S&P 500's gain of 1.13%.
Market participants will be closely following the financial results of Lithium Americas Corp. in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.05, reflecting a 400% decrease from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.2 per share and revenue of $0 million, which would represent changes of +4.76% and 0%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Lithium Americas Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 2.58% fall in the Zacks Consensus EPS estimate. Right now, Lithium Americas Corp. possesses 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 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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