In the latest trading session, Lithium Americas Corp. (LAC) closed at $2.65, marking a +1.15% move from the previous day. The stock exceeded the S&P 500, which registered a loss of 0.03% for the day. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.13%.
Shares of the lithium producer have depreciated by 6.76% over the course of the past month, underperforming the Basic Materials sector's gain of 3.05%, and the S&P 500's gain of 0.6%.
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 a 20% upward movement from the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.18 per share and a revenue of $0 million, indicating changes of +14.29% and 0%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 5.48% fall in the Zacks Consensus EPS estimate. Lithium Americas Corp. is currently sporting 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 153, placing it within the bottom 38% 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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