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Lithium Americas Corp. (LAC) closed at $3.05 in the latest trading session, marking a -0.97% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.43% for the day. Meanwhile, the Dow lost 1.01%, and the Nasdaq, a tech-heavy index, lost 0.47%.
The the stock of lithium producer has fallen by 0.96% in the past month, lagging the Basic Materials sector's gain of 3.69% and the S&P 500's gain of 2.6%.
The investment community will be paying close attention to the earnings performance of Lithium Americas Corp. in its upcoming release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.02 per share, which would represent year-over-year growth of 75%.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health 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, 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. Within the past 30 days, our consensus EPS projection has moved 2.37% higher. Lithium Americas Corp. is currently a Zacks Rank #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 173, positioning it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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 Report