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Lithium Americas Corp. (LAC) Gains As Market Dips: What You Should Know
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In the latest trading session, Lithium Americas Corp. (LAC - Free Report) closed at $22.27, marking a +1.6% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Coming into today, shares of the metals and mining company had gained 12.64% in the past month. In that same time, the Basic Materials sector gained 8.62%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 160%.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Lithium Americas Corp. has a Forward P/E ratio of 19.16 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.1.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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.
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
In the latest trading session, Lithium Americas Corp. (LAC - Free Report) closed at $22.27, marking a +1.6% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.03%, while the tech-heavy Nasdaq added 5.44%.
Coming into today, shares of the metals and mining company had gained 12.64% in the past month. In that same time, the Basic Materials sector gained 8.62%, while the S&P 500 gained 4.57%.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.26 per share, which would represent a year-over-year decline of 160%.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Lithium Americas Corp. has a Forward P/E ratio of 19.16 right now. This valuation marks a premium compared to its industry's average Forward P/E of 12.1.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 28% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.