Lithium Americas Corp. (LAC) closed the most recent trading day at $2.68, moving -3.25% from the previous trading session. This change lagged the S&P 500's daily gain of 0.52%. On the other hand, the Dow registered a gain of 0.63%, and the technology-centric Nasdaq increased by 0.48%.
Shares of the lithium producer have appreciated by 4.14% over the course of the past month, outperforming the Basic Materials sector's gain of 2.15%, and lagging the S&P 500's gain of 4.27%.
Investors will be eagerly watching for the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.04, signifying a 20.00% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.18 per share and revenue of $0 million, which would represent changes of +14.29% and 0%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Lithium Americas Corp. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 3.58% lower. Right now, Lithium Americas Corp. possesses a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 155, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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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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