In the latest close session, Lithium Americas Corp. (LAC) was down 1.88% at $2.61. The stock fell short of the S&P 500, which registered a loss of 0.79% for the day. Meanwhile, the Dow experienced a drop of 0.94%, and the technology-dominated Nasdaq saw a decrease of 0.92%.
Prior to today's trading, shares of the lithium producer had lost 1.48% lagged the Basic Materials sector's gain of 4.52% and the S&P 500's gain of 5.22%.
Investors will be eagerly watching for the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The company is predicted to post an EPS of -$0.04, indicating a 20% growth compared to the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.18 per share and a revenue of $0 million, signifying shifts of +14.29% and 0%, respectively, from the last 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.6% higher. At present, Lithium Americas Corp. boasts 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 157, placing it within the bottom 37% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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