In the latest close session, Lithium Americas Corp. (LAC) was down 2.28% at $2.57. The stock trailed the S&P 500, which registered a daily gain of 0.2%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, added 0.04%.
The lithium producer's stock has dropped by 12.63% in the past month, falling short of the Basic Materials sector's loss of 8.41% and the S&P 500's loss of 0.35%.
The investment community will be closely monitoring the performance of Lithium Americas Corp. in its forthcoming earnings report. The company is predicted to post an EPS of -$0.03, indicating a 50% decline compared to the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$0.07 per share and a revenue of $0 million, demonstrating changes of +84.78% and 0%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Lithium Americas Corp. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 33.7% rise in the Zacks Consensus EPS estimate. Lithium Americas Corp. presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 24% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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).