Lithium Americas Corp. (LAC) Stock Sinks As Market Gains: What You Should Know
Lithium Americas Corp. (LAC) closed the latest trading day at $2.64, indicating a -0.38% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 0.1%. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq increased by 0.28%.
Shares of the lithium producer have depreciated by 12.83% over the course of the past month, underperforming the Basic Materials sector's loss of 0.98% and the S&P 500's gain of 4.08%.
The upcoming earnings release of Lithium Americas Corp. will be of great interest to investors.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Lithium Americas Corp. is currently sporting a Zacks Rank of #2 (Buy).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Lithium Americas Corp. (LAC) : Free Stock Analysis Report
