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Lithium Americas Corp. (LAC) Outpaces Stock Market Gains: What You Should Know
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Lithium Americas Corp. (LAC - Free Report) closed at $21.21 in the latest trading session, marking a +1.73% move from the prior day. This change outpaced the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 2.12%, and the Nasdaq, a tech-heavy index, added 5.41%.
Heading into today, shares of the metals and mining company had gained 11.32% over the past month, outpacing the Basic Materials sector's loss of 5.72% and the S&P 500's gain of 1.53% in that time.
Wall Street will be looking for positivity from Lithium Americas Corp. as it approaches its next earnings report date. On that day, Lithium Americas Corp. is projected to report earnings of -$0.16 per share, which would represent a year-over-year decline of 33.33%.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 10.74% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Lithium Americas Corp. is currently trading at a Forward P/E ratio of 39.19. Its industry sports an average Forward P/E of 13.4, 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 industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
Lithium Americas Corp. (LAC - Free Report) closed at $21.21 in the latest trading session, marking a +1.73% move from the prior day. This change outpaced the S&P 500's 1.45% gain on the day. Meanwhile, the Dow gained 2.12%, and the Nasdaq, a tech-heavy index, added 5.41%.
Heading into today, shares of the metals and mining company had gained 11.32% over the past month, outpacing the Basic Materials sector's loss of 5.72% and the S&P 500's gain of 1.53% in that time.
Wall Street will be looking for positivity from Lithium Americas Corp. as it approaches its next earnings report date. On that day, Lithium Americas Corp. is projected to report earnings of -$0.16 per share, which would represent a year-over-year decline of 33.33%.
Any recent changes to analyst estimates for Lithium Americas Corp. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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 10.74% lower. Lithium Americas Corp. is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, Lithium Americas Corp. is currently trading at a Forward P/E ratio of 39.19. Its industry sports an average Forward P/E of 13.4, 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 industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.