Lithium Americas Corp. (LAC) closed the most recent trading day at $21.04, moving -0.47% from the previous trading session. This change lagged the S&P 500's 0.62% gain on the day. Elsewhere, the Dow gained 0.5%, while the tech-heavy Nasdaq lost 5.66%.
Heading into today, shares of the metals and mining company had lost 3.29% over the past month, lagging the Basic Materials sector's loss of 1.53% and the S&P 500's gain of 3.44% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.14 per share. This would mark a year-over-year decline of 16.67%.
Investors should also note any recent changes to 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 company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 25.76% lower. Lithium Americas Corp. is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Lithium Americas Corp. is holding a Forward P/E ratio of 47.77. Its industry sports an average Forward P/E of 14.23, so we one might conclude that Lithium Americas Corp. is trading at a premium comparatively.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% 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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