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Lithium Americas Corp. (LAC) Gains As Market Dips: What You Should Know
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In the latest trading session, Lithium Americas Corp. (LAC - Free Report) closed at $22.80, marking a +1.06% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the metals and mining company had gained 2.92% over the past month. This has outpaced the Basic Materials sector's loss of 3.6% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. The company is expected to report EPS of -$0.25, down 150% from the prior-year quarter.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 2.6% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Lithium Americas Corp.'s current valuation metrics, including its Forward P/E ratio of 20.25. Its industry sports an average Forward P/E of 11.95, 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 group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lithium Americas Corp. (LAC) Gains As Market Dips: What You Should Know
In the latest trading session, Lithium Americas Corp. (LAC - Free Report) closed at $22.80, marking a +1.06% move from the previous day. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, added 1.58%.
Prior to today's trading, shares of the metals and mining company had gained 2.92% over the past month. This has outpaced the Basic Materials sector's loss of 3.6% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from Lithium Americas Corp. as it approaches its next earnings release. The company is expected to report EPS of -$0.25, down 150% from the prior-year quarter.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 2.6% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Lithium Americas Corp.'s current valuation metrics, including its Forward P/E ratio of 20.25. Its industry sports an average Forward P/E of 11.95, 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 group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.