In the latest close session, Lithium Americas Corp. (LAC) was down 5.06% at $3.94. This change lagged the S&P 500's 0.1% loss on the day. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, lost 0.43%.
The stock of lithium producer has fallen by 16.83% in the past month, lagging the Basic Materials sector's loss of 3.56% and the S&P 500's loss of 1.34%.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.04, reflecting a 33.33% increase from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.14 per share and a revenue of $0 million, signifying shifts of +69.57% and 0%, respectively, from the last year.
Investors should also note any 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 past month, the Zacks Consensus EPS estimate has shifted 9.91% upward. Right now, Lithium Americas Corp. possesses a Zacks Rank of #2 (Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 37% 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.
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
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