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Here's Why Lithium Americas Corp. (LAC) Fell More Than Broader Market
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Lithium Americas Corp. (LAC - Free Report) closed at $2.41 in the latest trading session, marking a -5.12% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.66%, and the technology-dominated Nasdaq saw a decrease of 0.22%.
The lithium producer's stock has dropped by 15.33% in the past month, falling short of the Basic Materials sector's loss of 6.74% and the S&P 500's gain of 1.4%.
Market participants will be closely following the financial results of Lithium Americas Corp. in its upcoming release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 50%.
LAC's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $0 million. These results would represent year-over-year changes of +84.78% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Lithium Americas Corp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 12.11% increase. As of now, Lithium Americas Corp. holds a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
View the Zacks #1 Rank List
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Here's Why Lithium Americas Corp. (LAC) Fell More Than Broader Market
Lithium Americas Corp. (LAC - Free Report) closed at $2.41 in the latest trading session, marking a -5.12% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.22%. Meanwhile, the Dow experienced a drop of 0.66%, and the technology-dominated Nasdaq saw a decrease of 0.22%.
The lithium producer's stock has dropped by 15.33% in the past month, falling short of the Basic Materials sector's loss of 6.74% and the S&P 500's gain of 1.4%.
Market participants will be closely following the financial results of Lithium Americas Corp. in its upcoming release. On that day, Lithium Americas Corp. is projected to report earnings of -$0.03 per share, which would represent a year-over-year decline of 50%.
LAC's full-year Zacks Consensus Estimates are calling for earnings of -$0.07 per share and revenue of $0 million. These results would represent year-over-year changes of +84.78% and 0%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Lithium Americas Corp. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 12.11% increase. As of now, Lithium Americas Corp. holds a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 202, which puts it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.