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Lithium Americas Corp. (LAC) Outpaces Stock Market Gains: What You Should Know
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Lithium Americas Corp. (LAC - Free Report) closed at $20.57 in the latest trading session, marking a +0.83% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Heading into today, shares of the metals and mining company had lost 7.02% over the past month, lagging the Basic Materials sector's gain of 1.55% and the S&P 500's gain of 4.31% 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 -$0.14 per share, which would represent a year-over-year decline of 16.67%.
It is also important to note the recent changes to analyst estimates for Lithium Americas Corp.Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 16.82% lower. Lithium Americas Corp. currently has a Zacks Rank of #3 (Hold).
Investors should also note Lithium Americas Corp.'s current valuation metrics, including its Forward P/E ratio of 46.1. This valuation marks a premium compared to its industry's average Forward P/E of 14.51.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
To follow LAC in the coming trading sessions, be sure to utilize Zacks.com.
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Lithium Americas Corp. (LAC) Outpaces Stock Market Gains: What You Should Know
Lithium Americas Corp. (LAC - Free Report) closed at $20.57 in the latest trading session, marking a +0.83% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.37%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 1.26%.
Heading into today, shares of the metals and mining company had lost 7.02% over the past month, lagging the Basic Materials sector's gain of 1.55% and the S&P 500's gain of 4.31% 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 -$0.14 per share, which would represent a year-over-year decline of 16.67%.
It is also important to note the recent changes to analyst estimates for Lithium Americas Corp.Recent revisions tend to reflect the latest near-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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 16.82% lower. Lithium Americas Corp. currently has a Zacks Rank of #3 (Hold).
Investors should also note Lithium Americas Corp.'s current valuation metrics, including its Forward P/E ratio of 46.1. This valuation marks a premium compared to its industry's average Forward P/E of 14.51.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% 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.
To follow LAC in the coming trading sessions, be sure to utilize Zacks.com.