Lithium Americas Corp. (LAC) ended the recent trading session at $2.65, demonstrating a -3.28% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.61%. Elsewhere, the Dow gained 0.49%, while the tech-heavy Nasdaq added 0.95%.
Heading into today, shares of the lithium producer had lost 0.72% over the past month, lagging the Basic Materials sector's gain of 1.51% and the S&P 500's gain of 3.85%.
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.
Investors should also note any recent changes to analyst estimates for Lithium Americas Corp. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding 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, 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 0.6% higher. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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