In This Article:
Lithium Americas Corp. (LAC) closed the latest trading day at $2.76, indicating no change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.67%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq increased by 0.87%.
Heading into today, shares of the lithium producer had gained 7.81% over the past month, outpacing the Basic Materials sector's gain of 0.34% and the S&P 500's loss of 5.28% in that time.
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 -$0.03, indicating a 25% growth compared to the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Lithium Americas Corp. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 21.86% lower within the past month. Currently, Lithium Americas Corp. is carrying a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 168, positioning it in the bottom 33% of all 250+ industries.
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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Lithium Americas Corp. (LAC) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).