Lithium Americas Corp. (LAC) closed the most recent trading day at $2.68, moving -0.74% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.13%. At the same time, the Dow lost 1.33%, and the tech-heavy Nasdaq lost 0.13%.
Coming into today, shares of the lithium producer had lost 10.89% in the past month. In that same time, the Basic Materials sector lost 4.72%, while the S&P 500 lost 6.3%.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. The company is predicted to post an EPS of -$0.03, indicating a 25% growth compared to the equivalent quarter last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lithium Americas Corp. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 31.82% downward. 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 167, this industry ranks in the bottom 33% of all industries, numbering over 250.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Lithium Americas Corp. (LAC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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