Yahoo Finance Lithium Americas Corp. (LAC) Gains But Lags Market: What You Should Know
In the latest trading session, Lithium Americas Corp. (LAC) closed at $24.96, marking a +1.05% move from the previous day. This move lagged the S&P 500's daily gain of 1.47%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 7.94%.
Coming into today, shares of the metals and mining company had gained 30.27% in the past month. In that same time, the Basic Materials sector gained 12.32%, while the S&P 500 gained 7.41%.
Lithium Americas Corp. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.26, down 160% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Lithium Americas Corp.These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.97% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #5 (Strong Sell).
Investors should also note Lithium Americas Corp.'s current valuation metrics, including its Forward P/E ratio of 22.21. This valuation marks a premium compared to its industry's average Forward P/E of 12.78.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 197, 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.
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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Lithium Americas Corp. (LAC) : Free Stock Analysis Report
