Arcadium Lithium (NYSE:ALTM) Cut to Hold at Scotiabank

Arcadium Lithium (NYSE:ALTM) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on ALTM. Piper Sandler raised shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. TD Cowen cut shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. KeyCorp downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Raymond James cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Hsbc Global Res raised Arcadium Lithium to a “hold” rating in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating, According to MarketBeat, Arcadium Lithium currently has a consensus rating of “Hold” and an average target price of $11.00.

Arcadium Lithium Price Performance

NYSE ALTM opened at $5.37 on Monday. The company has a 50-day simple moving average of $3.98 and a two-hundred day simple moving average of $3.77. Arcadium Lithium has a 12-month low of $2.19 and a 12-month high of $18.77. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 19.87 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last issued its earnings results on Thursday, November 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). The company had revenue of $203.10 million during the quarter, compared to the consensus estimate of $263.14 million.

About Arcadium Lithium

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.