Lithium Americas Corp. (LAC) closed at $21.04 in the latest trading session, marking a -1.22% move from the prior day. This move lagged the S&P 500's daily gain of 0.24%. At the same time, the Dow added 0.31%, and the tech-heavy Nasdaq lost 7.84%.
Heading into today, shares of the metals and mining company had gained 2.45% over the past month, lagging the Basic Materials sector's gain of 2.68% and the S&P 500's gain of 3.39% in that time.
Lithium Americas Corp. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.14, down 16.67% from the prior-year quarter.
Investors should also note any 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 9.6% higher. Lithium Americas Corp. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Lithium Americas Corp. is currently trading at a Forward P/E ratio of 43.92. This represents a premium compared to its industry's average Forward P/E of 14.89.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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July 20, 2023 at 05:15AM
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Lithium Americas Corp. (LAC) Stock Sinks As Market Gains: What You Should Know - Yahoo Finance
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