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Lithium Americas Corp. (LAC) Gains As Market Dips: What You Should Know
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Lithium Americas Corp. (LAC - Free Report) closed the most recent trading day at $19.95, moving +0.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the metals and mining company had lost 5.73% over the past month, lagging the Basic Materials sector's gain of 7.22% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. The company is expected to report EPS of -$0.26, down 160% from the prior-year quarter.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.87% lower. Lithium Americas Corp. is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Lithium Americas Corp. is holding a Forward P/E ratio of 17.39. This valuation marks a premium compared to its industry's average Forward P/E of 12.92.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lithium Americas Corp. (LAC) Gains As Market Dips: What You Should Know
Lithium Americas Corp. (LAC - Free Report) closed the most recent trading day at $19.95, moving +0.3% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.76%. At the same time, the Dow lost 0.76%, and the tech-heavy Nasdaq lost 10.92%.
Heading into today, shares of the metals and mining company had lost 5.73% over the past month, lagging the Basic Materials sector's gain of 7.22% and the S&P 500's gain of 2.18% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. The company is expected to report EPS of -$0.26, down 160% from the prior-year quarter.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.87% lower. Lithium Americas Corp. is holding a Zacks Rank of #5 (Strong Sell) right now.
Looking at its valuation, Lithium Americas Corp. is holding a Forward P/E ratio of 17.39. This valuation marks a premium compared to its industry's average Forward P/E of 12.92.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.