In the latest trading session, Lithium Americas Corp. (LAC) closed at $21.41, marking a +0.23% move from the previous day. The stock outpaced the S&P 500’s daily loss of 0.16%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, added 3.1%.
Heading into today, shares of the metals and mining company had gained 6.06% over the past month, outpacing the Basic Materials sector’s loss of 5.86% and the S&P 500’s gain of 0.6% in that time.
Lithium Americas Corp. will be looking to display strength as it nears its next earnings release. In that report, analysts expect Lithium Americas Corp. to post earnings of -$0.19 per share. This would mark year-over-year growth of 45.71%.
Investors might also notice recent changes to analyst estimates for Lithium Americas Corp.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Within the past 30 days, our consensus EPS projection has moved 30.29% lower. Lithium Americas Corp. is currently a Zacks Rank #3 (Hold).
Investors should also note Lithium Americas Corp.’s current valuation metrics, including its Forward P/E ratio of 35.84. This represents a premium compared to its industry’s average Forward P/E of 12.94.
The Chemical – Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 180, which puts it in the bottom 29% 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.
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