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Lithium Americas Corp. (LAC) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·2 min read

Lithium Americas Corp. (LAC) closed at $20.13 in the latest trading session, marking a -1.8% move from the prior day. This change lagged the S&P 500's daily loss of 0.88%. Elsewhere, the Dow lost 0.82%, while the tech-heavy Nasdaq added 0.08%.

Coming into today, shares of the metals and mining company had lost 9.05% in the past month. In that same time, the Basic Materials sector lost 16.65%, while the S&P 500 lost 8.06%.

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 -$0.14 per share, which would represent year-over-year growth of 12.5%.

It is also important to note the recent changes to analyst estimates for Lithium Americas Corp.These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 250% lower within the past month. Lithium Americas Corp. currently has a Zacks Rank of #3 (Hold).

The Chemical - Diversified industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% 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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Zacks Investment Research