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The latest trading session saw Lithium Americas Corp. (LAC) ending at $2.89, denoting a -1.7% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.49%. Meanwhile, the Dow experienced a drop of 0.2%, and the technology-dominated Nasdaq saw an increase of 1.22%.
Heading into today, shares of the lithium producer had gained 1.38% over the past month, outpacing the Basic Materials sector's loss of 2.81% and the S&P 500's loss of 8.15% in that time.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.02 per share. This would mark year-over-year growth of 75%.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.82% lower. Lithium Americas Corp. is holding a Zacks Rank of #3 (Hold) right now.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% 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.
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).