Lithium Americas Corp. (LAC) Dips More Than Broader Markets: What You Should Know
Lithium Americas Corp. (LAC) closed the most recent trading day at $22.33, moving -1.06% from the previous trading session. This change lagged the S&P 500's daily loss of 0.11%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq gained 0.14%.
Coming into today, shares of the metals and mining company had gained 1.86% in the past month. In that same time, the Basic Materials sector lost 3.08%, while the S&P 500 gained 2.46%.
Wall Street will be looking for positivity from LAC as it approaches its next earnings report date. On that day, LAC is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 71.43%.
Any recent changes to analyst estimates for LAC should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 17.61% higher. LAC is currently a Zacks Rank #3 (Hold).
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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