Lithium Americas Corp. (LAC) closed at $4.57 in the latest trading session, marking a +1.33% move from the prior day. The stock's change was more than the S&P 500's daily loss of 1.04%. Meanwhile, the Dow lost 1.66%, and the Nasdaq, a tech-heavy index, lost 1.13%.
The stock of lithium producer has fallen by 29.97% in the past month, lagging the Basic Materials sector's gain of 8.11% and the S&P 500's gain of 1.75%.
Analysts and investors alike will be keeping a close eye on the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.04, showcasing a 63.64% upward movement from the corresponding quarter of the prior year.
LAC's full-year Zacks Consensus Estimates are calling for earnings of -$0.98 per share and revenue of $0 million. These results would represent year-over-year changes of -366.67% and 0%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Lithium Americas Corp. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change 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. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 21% of over 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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