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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 the most recent trading day at $23.86, moving -1.77% from the previous trading session. This change lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Heading into today, shares of the metals and mining company had lost 0.12% over the past month, lagging the Basic Materials sector's gain of 0.8% and outpacing the S&P 500's loss of 2% in that time.
Wall Street will be looking for positivity from Lithium Americas Corp. as it approaches its next earnings report date. On that day, Lithium Americas Corp. is projected to report earnings of -$0.25 per share, which would represent a year-over-year decline of 150%.
Investors might also notice recent changes to analyst estimates for Lithium Americas Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 9.96% higher. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Lithium Americas Corp. is holding a Forward P/E ratio of 21.8. This represents a premium compared to its industry's average Forward P/E of 14.24.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Lithium Americas Corp. (LAC) Stock Sinks As Market Gains: What You Should Know
Lithium Americas Corp. (LAC - Free Report) closed the most recent trading day at $23.86, moving -1.77% from the previous trading session. This change lagged the S&P 500's daily gain of 0.07%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 1.47%.
Heading into today, shares of the metals and mining company had lost 0.12% over the past month, lagging the Basic Materials sector's gain of 0.8% and outpacing the S&P 500's loss of 2% in that time.
Wall Street will be looking for positivity from Lithium Americas Corp. as it approaches its next earnings report date. On that day, Lithium Americas Corp. is projected to report earnings of -$0.25 per share, which would represent a year-over-year decline of 150%.
Investors might also notice recent changes to analyst estimates for Lithium Americas Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 9.96% higher. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Lithium Americas Corp. is holding a Forward P/E ratio of 21.8. This represents a premium compared to its industry's average Forward P/E of 14.24.
The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.