Lithium Americas Corp. (LAC) closed the most recent trading day at $4.74, moving -2.07% from the previous trading session. The stock's performance was behind the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a rise of 0.1%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Coming into today, shares of the lithium producer had lost 15.97% in the past month. In that same time, the Basic Materials sector gained 11.52%, while the S&P 500 gained 0%.
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 -$0.04, marking a 63.64% rise compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.98 per share and a revenue of $0 million, demonstrating changes of -366.67% and 0%, respectively, from the preceding 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 4.84% fall in the Zacks Consensus EPS estimate. Lithium Americas Corp. presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 46, finds itself in the top 19% echelons 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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