Lithium Americas Corp. (LAC) closed the most recent trading day at $4.87, moving -1.42% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.68%, and the technology-dominated Nasdaq saw a decrease of 0.26%.
Shares of the lithium producer witnessed a loss of 50.85% over the previous month, trailing the performance of the Basic Materials sector with its gain of 0.94%, and the S&P 500's gain of 4.57%.
The investment community will be closely monitoring the performance of Lithium Americas Corp. in its forthcoming earnings report. The company's upcoming EPS is projected at -$0.05, signifying a 400.00% drop compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.2 per share and revenue of $0 million, indicating changes of +4.76% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Lithium Americas Corp. Such recent modifications usually signify the changing landscape 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. 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 witnessed a 0.71% increase. Lithium Americas Corp. is holding a Zacks Rank of #3 (Hold) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lithium Americas Corp. (LAC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
