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Friday, September 01, 2023 11:41:05 AM
11:00 am ET August 23, 2023 (Zacks) Print
Electra Battery Materials Corporation (ELBM) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Electra Battery Materials Corporation is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Electra Battery Materials Corporation, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisio
Recent ELBM News
- Electra Announces $20 Million Strategic Investment Proposal • GlobeNewswire Inc. • 09/10/2024 11:30:00 AM
- Electra to Discuss Partnership Opportunities at Indonesian Critical Minerals Summit • GlobeNewswire Inc. • 08/30/2024 11:30:00 AM
- Electra Engages Altitude Capital Consultants • GlobeNewswire Inc. • 08/29/2024 11:30:00 AM
- Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More • IH Market News • 08/20/2024 09:56:02 AM
- Electra Awarded $20 Million from U.S. Department of Defense Under the Defense Production Act • Business Wire • 08/19/2024 06:34:00 PM
- Electra Announces Agreement Regarding Outstanding Convertible Notes Interest and Filing of Second Quarter 2024 Financial Reports • Business Wire • 08/14/2024 08:40:00 PM
- Electra Announces Voting Results of its 2024 Annual Meeting of Shareholders • Business Wire • 08/13/2024 08:35:00 PM
- Electra Identifies New Copper Showing in Idaho and Extends Redcastle Agreement • Business Wire • 07/25/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/10/2024 04:09:36 PM
- Electra Awarded $5 Million from Government of Canada to Advance Development of Proprietary Battery Metals Recycling Technology • Business Wire • 06/10/2024 03:43:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/30/2024 06:04:14 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/23/2024 11:43:10 AM
- Electra Files First Quarter 2024 Financial Reports • Business Wire • 05/22/2024 11:00:00 AM
- Electra Provides Refinery Update and Files 2023 Financial Reports • Business Wire • 05/13/2024 11:00:00 AM
- Electra and Eurasian Resources Group Sign Cobalt Supply Agreement • Business Wire • 04/02/2024 11:00:00 AM
- Electra Receives Extension from NASDAQ to Resolve Minimum Price Requirement • Business Wire • 03/21/2024 08:40:00 PM
- Electra Provides Corporate Update • Business Wire • 03/13/2024 11:00:00 AM
- Electra Provides Corporate Update • Business Wire • 02/27/2024 11:26:00 PM
- Electra Participating in Upcoming North American Critical Minerals Industry & Investment Events • Business Wire • 02/24/2024 01:00:00 PM
- Electra Provides Corporate Update • Business Wire • 02/13/2024 12:23:00 AM
- Electra Receives $5 Million Grant from Government of Canada to Support the Development of the North American Electric Vehicle Supply Chain • Business Wire • 02/09/2024 08:10:00 PM
- Electra Provides Update on Black Mass Recycling • Business Wire • 02/05/2024 12:00:00 PM
- Electra Appoints Heather Smiles as Vice President, Investor Relations & Corporate Development • Business Wire • 01/15/2024 12:00:00 PM
- Electra Appoints 30-year Finance Veteran as CFO and Provides Financing Update • Business Wire • 12/29/2023 01:13:00 PM
- Electra Appoints Metallurgist with 30 Years of Experience as VP of Technology • Business Wire • 12/05/2023 12:00:00 PM
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