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Lithium Americas Corp. (LAC) Stock Dips While Market Gains: Key Facts

Zacks Equity Research
·2 min read

In the latest market close, Lithium Americas Corp. (LAC) reached $4.44, with a -1.11% movement compared to the previous day. This change lagged the S&P 500's daily gain of 1.03%. Meanwhile, the Dow gained 0.46%, and the Nasdaq, a tech-heavy index, added 1.19%.

Prior to today's trading, shares of the lithium producer had lost 34.16% over the past month. This has lagged the Basic Materials sector's loss of 2.43% and the S&P 500's loss of 1.57% in that time.

The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors. The company's earnings report is expected on May 13, 2024.

Investors should also pay attention to any latest changes in analyst estimates for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 27.79% higher. Lithium Americas Corp. is currently a Zacks Rank #3 (Hold).

The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 169, finds itself in the bottom 33% echelons 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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Lithium Americas Corp. (LAC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research