Lithium Americas Corp. (LAC) Registers a Bigger Fall Than the Market: Important Facts to Note
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Lithium Americas Corp. (LAC) closed the most recent trading day at $3.24, moving -1.52% from the previous trading session. This change lagged the S&P 500's daily loss of 0.02%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.04%.
The lithium producer's stock has climbed by 40.6% in the past month, exceeding the Basic Materials sector's gain of 7.12% and the S&P 500's gain of 3.77%.
Analysts and investors alike will be keeping a close eye on the performance of Lithium Americas Corp. in its upcoming earnings disclosure. The company's earnings report is set to go public on November 5, 2024.
Investors should also take note of any recent adjustments to analyst estimates for Lithium Americas Corp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 1.16% lower. Lithium Americas Corp. presently features a Zacks Rank of #3 (Hold).
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 190, which puts it in the bottom 25% 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.
To follow LAC in the coming trading sessions, be sure to utilize Zacks.com.
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Lithium Americas Corp. (LAC) : Free Stock Analysis Report