In the latest trading session, Lithium Americas Corp. (LAC) closed at $20.55, marking a +0.78% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.33%. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Prior to today's trading, shares of the metals and mining company had gained 1.24% over the past month. This has lagged the Basic Materials sector's gain of 3.73% and the S&P 500's gain of 5.67% in that time.
Wall Street will be looking for positivity from Lithium Americas Corp. as it approaches its next earnings report date. The company is expected to report EPS of -$0.13, up 62.86% from the prior-year quarter.
Investors should also note any 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.
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.
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 13.53% lower. Lithium Americas Corp. is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Lithium Americas Corp. has a Forward P/E ratio of 23.85 right now. Its industry sports an average Forward P/E of 14.28, 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 199, which puts it in the bottom 22% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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April 18, 2023 at 05:00AM
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Lithium Americas Corp. (LAC) Outpaces Stock Market Gains: What You Should Know - Yahoo Finance
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