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Lithium Americas Corp. (LAC) Stock Sinks As Market Gains: What You Should Know

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Lithium Americas Corp. (LAC - Free Report) closed at $4.27 in the latest trading session, marking a -0.23% move from the prior day. This change lagged the S&P 500's daily gain of 1.09%. At the same time, the Dow added 0.84%, and the tech-heavy Nasdaq gained 1.42%.

Heading into today, shares of the metals and mining company had gained 22.64% over the past month, outpacing the Basic Materials sector's loss of 0.72% and the S&P 500's gain of 1.18% in that time.

Investors will be hoping for strength from LAC as it approaches its next earnings release. In that report, analysts expect LAC to post earnings of -$0.07 per share. This would mark a year-over-year decline of 600%. Meanwhile, our latest consensus estimate is calling for revenue of $1.10 million, up 144.44% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for LAC. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.57% higher. LAC is currently sporting a Zacks Rank of #2 (Buy).

The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 18% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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