Livent Corporation (LTHM): Street Finally Waking Up


    Fidelity Management & Research Co. recently announced the acquisition of new stake in Livent Corporation (NYSE:LTHM). The institutional investor has increased its shareholding in the Basic Materials company by 202.06% to 18.06 million shares with purchase of 12.08 million shares. This fresh investment now brings its stake to 12.36% valued currently at $111.26 million. In addition, The Vanguard Group, Inc. raised its holdings by 31953.0 to 15.58 million shares. And Columbia Management Investment Ad. has lifted its position by 3.44% or 0.17 million shares – to 5.01 million shares.

    With over 2.08 million Livent Corporation (LTHM) shares trading Tuesday and a closing price of $6.57 on the day, the dollar volume was approximately $13.67 million. The shares have shown a negative weekly performance of -5.19% and its price on 07/28/20 lost nearly -1.50%. Currently, there are 146.10M common shares owned by the public and among those 145.10M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for LTHM have a consensus price objective of $6.64. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Livent Corporation stock is 2.80 for the next 12 months. The average price target is 10.98% above its last price level and an upside to the estimated low will see the stock lose -31.4% over that period. But an upside of 17.87% will see the stock hit the forecast high price target while mean target price for the stock is $6.50.

    Insiders at the company have transacted a total of 21 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 227,154 shares. Insider sales of the common stock occurred on 7 occasions, with total insider shares sold totaling 76,581 shares.

    The top 3 mutual fund holders in Livent Corporation are iShares Core S&P Small Cap ETF, Fidelity OTC Portfolio, and Fidelity Balanced Fund. iShares Core S&P Small Cap ETF owns 9.02 million shares of the company’s stock, all valued at over $55.58 million. Fidelity OTC Portfolio sold 12216.0 shares to see its total holdings shrink to 5.8 million shares valued at over $35.74 million and representing 3.97% of the shares outstanding. Fidelity Balanced Fund bought 5.06 million shares to bring its total holdings to over 5.06 million shares at a value of $31.19 million. Fidelity Balanced Fund now owns shares totaling to 3.46% of the shares outstanding.

    Shares of Livent Corporation (NYSE: LTHM) opened at $6.67, unchanged from a prior closing price of $6.67. However, the script later closed the day at $6.57, down -1.50%. The company’s stock has a 5-day price change of -5.19% and 10.23% over the past three months. LTHM shares are trading -23.16% year to date (YTD), with the 12-month market performance up to 3.14% higher. It has a 12-month low price of $3.95 and touched a high of $12.29 over the same period. Currently, 2.08 million shares have been traded, compared to an average intraday trading volume of 2.67 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.32%, -2.31%, and -11.07% respectively.

    Institutional ownership of Livent Corporation (NYSE: LTHM) 146.10M shares outstanding. Mutual fund holders own 65.06%, while other institutional holders and individual stakeholders account for 85.23% and 38.40% respectively.

    It has a market capitalization of $995.88M. The stock’s trailing 12-month PE ratio is 30.70, while the earnings-per-share (ttm) stands at $0.21. The company has a PEG of 4.99 and a Quick Ratio of 1.50 with the debt-to-equity ratio at 0.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.72% over the week and 5.18% over the month.

    Analysts forecast that Livent Corporation (LTHM) will achieve an EPS of $0.02 for the current quarter, $0.04 for the next quarter and $0.3 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -60.40%, and 130.53% over the next financial year.

    Looking at the support for the LTHM, a number of firms have released research notes about the stock. BMO Capital Markets stated their Market Perform rating for the stock in a research note on April 06, 2020, with the firm’s price target at. Goldman coverage for the Livent Corporation (LTHM) stock in a research note released on March 30, 2020 offered a Neutral rating with a price target of $5. Vertical Research was of a view on March 26, 2020 that the stock is Hold, while KeyBanc Capital Markets gave the stock Sector Weight rating on March 26, 2020, issuing a price target of. Vertical Research on their part issued Sell rating on February 21, 2020.


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