Lithium Americas Corp. (LAC) closed at $2.14 in the latest trading session, marking a -1.83% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 0.41%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq added 1.11%.
Coming into today, shares of the lithium producer had lost 23.78% in the past month. In that same time, the Basic Materials sector lost 3.62%, while the S&P 500 gained 1.46%.
The investment community will be closely monitoring the performance of Lithium Americas Corp. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be -$0.03, reflecting a 50% decrease from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.07 per share and a revenue of $0 million, representing changes of +84.78% and 0%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.
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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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).