In the latest trading session, Lithium Americas Corp. (LAC) closed at $2.87, marking a -1.37% move from the previous day. This change lagged the S&P 500's daily gain of 0.15%. Meanwhile, the Dow experienced a rise of 0.35%, and the technology-dominated Nasdaq saw a decrease of 0.09%.
Prior to today's trading, shares of the lithium producer had gained 5.43% over the past month. This has outpaced the Basic Materials sector's loss of 1.29% and the S&P 500's loss of 0.21% in that time.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. The company is forecasted to report an EPS of -$0.04, showcasing no movement from the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Lithium Americas Corp. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 27.88% lower. Currently, Lithium Americas Corp. is carrying a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 41% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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