In the latest trading session, Lithium Americas Corp. (LAC) closed at $24.55, marking a +0.9% move from the previous day. This move lagged the S&P 500's daily gain of 2.44%. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 0.28%.
Prior to today's trading, shares of the metals and mining company had lost 17.75% over the past month. This has lagged the Basic Materials sector's loss of 3.8% and the S&P 500's loss of 9.65% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.12 per share. This would mark a year-over-year decline of 20%.
Investors should also note any recent changes to analyst estimates for Lithium Americas Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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. The Zacks Consensus EPS estimate has moved 183.33% lower within the past month. Lithium Americas Corp. is holding a Zacks Rank of #3 (Hold) right now.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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