Lithium Americas Corp. (LAC) closed at $2.20 in the latest trading session, marking a -2.22% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.02%. On the other hand, the Dow registered a loss of 0.35%, and the technology-centric Nasdaq decreased by 0.15%.
The stock of lithium producer has fallen by 22.15% in the past month, lagging the Basic Materials sector's loss of 5.62% and the S&P 500's gain of 2.05%.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.03, marking a 50% fall compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.07 per share and revenue of $0 million. These totals would mark changes of +84.78% and 0%, respectively, from last year.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. 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 188, positioning it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant 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).