Livent Corp. (LTHM)

by | Oct 13, 2021 | Daily Trade Alerts

Just yesterday, we highlighted an opportunity in Lithium Americas (LAC), which opened at $21.76. This morning, LAC is set to open at $24.53 and could see $26 shortly. Remember, with EV demand accelerating, and hopes for a green future, lithium miners are struggling to supply the market. That’s a substantial catalyst for companies such as Lithium Americas.

Another way to trade the lithium boom is with Livent Corp. (LTHM), which just broke out from consolidation. If it can now break above prior resistance around $26.80, it could see $30. The stock could also benefit as the company nears earnings on November 4 at 5pm EST.

In its last earnings report, “Revenue was $102.2 million, up 11% from the first quarter of 2021 and 57% higher versus the prior year, with reported GAAP net income of $6.5 million, or 3 cents per diluted share. Adjusted EBITDA was $16.0 million, 44% higher than the first quarter of 2021 and 150% higher versus the prior year, and adjusted earnings per share was 4 cents per diluted share. Improving market conditions supported higher volumes sold and higher prices across key lithium products versus the prior quarter,” as noted in a press release.

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