Lithium Americas Corp. (LAC) closed at $4.76 in the latest trading session, marking a -2.26% move from the prior day. This change lagged the S&P 500's 0.54% gain on the day. Elsewhere, the Dow saw an upswing of 1.05%, while the tech-heavy Nasdaq appreciated by 0.56%.
Coming into today, shares of the lithium producer had gained 2.1% in the past month. In that same time, the Basic Materials sector gained 7.23%, while the S&P 500 gained 0.74%.
The investment community will be paying close attention to the earnings performance of Lithium Americas Corp. in its upcoming release. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.04 per share. This would mark year-over-year growth of 63.64%.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.98 per share and revenue of $0 million. These totals would mark changes of -366.67% and 0%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, 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 moved 0.03% lower. Lithium Americas Corp. is currently sporting 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 59, positioning it in the top 25% 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.
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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