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Lithium Americas Corp. (LAC) Gains But Lags Market: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Lithium Americas Corp. (LAC) closed at $21.82, marking a +1.39% move from the previous day. This move lagged the S&P 500's daily gain of 3.06%. At the same time, the Dow added 2.68%, and the tech-heavy Nasdaq lost 0.04%.

Heading into today, shares of the metals and mining company had lost 20.39% over the past month, lagging the Basic Materials sector's loss of 15.58% and the S&P 500's loss of 4.31% in that time.

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 -$0.16 per share, which would represent no growth from the prior-year quarter.

Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. 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 company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 600% lower within the past month. Lithium Americas Corp. is currently a Zacks Rank #3 (Hold).

In terms of valuation, Lithium Americas Corp. is currently trading at a Forward P/E ratio of 896.67. This represents a premium compared to its industry's average Forward P/E of 9.07.

The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% 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.

To follow LAC in the coming trading sessions, be sure to utilize Zacks.com.


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