|Over a week ago|
Goldman Sachs to hold a virtual conference » 08:4405/1305/13/20
ROK, XPO, HON, BERY, KSU, DOV, SAIC, ESI, WLK, J, EMR, LTHM, WRK, GTES, ALLE, PHM, RBC, KALU, JELD, UNVR
Industrials & Materials Virtual Conference will be held on May 13-15 with company presentations to begin on May 13 at 8 am. Webcast Link
Livent reports Q1 EPS 2c, consensus 4c » 16:4505/1105/11/20
Reports Q1 revenue $69M,…
Reports Q1 revenue $69M, consensus $90.43M.
|Over a month ago|
Livent resumes operations In Argentina, withdraws FY20 guidance » 08:1104/0604/06/20
Livent announced that it…
Livent announced that it has resumed operations in Argentina after receiving authorization from the government. The company will continue to work closely with local authorities to ensure all necessary precautions are taken to protect the health and well-being of employees, their families and the communities in which it operates. Additionally, in light of the evolving impact of COVID-19 and the broader uncertainty in the global business environment, the company is withdrawing its previously issued full-year 2020 guidance. Livent plans to provide an updated outlook once it has greater clarity regarding the implications of COVID-19 on its business. The company remains focused on maintaining its financial flexibility and will continue to manage its cash flow and capital allocation decisions to navigate through this challenging environment.
Livent upgraded to Market Perform from Underperform at BMO Capital » 16:1704/0504/05/20
LTHM, ALB, SQM
BMO Capital analyst Joel…
BMO Capital analyst Joel Jackson upgraded Livent (LTHM) to Market Perform from Underperform with a price target of $5.50, down from $7.50. The stock closed Friday up 13c to $4.73. The analyst cites valuation for the upgrade following Livent's share price correction and relative underperformance versus Albemarle (ALB) and SQM (SQM) since mid-February. Jackson, who reduced the company's estimates to reflect macro issues and "still-weakening" hydroxide prices, still models a two-year delay to lithium expansions, however.
Livent downgraded to Neutral from Buy at Goldman Sachs » 05:5203/3003/30/20
Goldman Sachs analyst…
Goldman Sachs analyst Robert Koort downgraded Livent to Neutral from Buy with a price target of $5, down from $9.50. While the analyst remains positive on the underlying secular opportunity in the lithium market, he sees the impact of coronavirus weighing on near-term end market demand trends, and delaying a pricing upcycle that previously appeared imminent. As such, Livent's opportunity to exploit future volume growth might be pressured, leading to disappointing performance relative to peers once growth reaccelerates in the lithium industry, Koort tells investors in a research note.
Livent upgraded to Hold from Sell at Vertical Research » 09:3103/2603/26/20
Vertical Research analyst…
Vertical Research analyst Kevin McCarthy upgraded Livent to Hold from Sell.
KeyBanc initiates Livent with Sector Weight on lack of capex financing clarity » 07:5703/2603/26/20
As previously reported,…
As previously reported, KeyBanc analyst Aleksey Yefremov initiated coverage of Livent with a Sector Weight rating. The analyst believes that the equity market is expecting a lithium price recovery in coming 12 months, and agrees that lithium prices are close to trough, and the next move in spot prices is up. He argues that Livent's realized prices in 2020 will likely be below his long-term price forecast, suggesting improvement in 2021-plus.
Livent initiated with a Sector Weight at KeyBanc » 16:5803/2503/25/20
KeyBanc analyst Aleksey…
KeyBanc analyst Aleksey Yefremov initiated coverage of Livent with a Sector Weight rating.
Livent to suspend all capital expansion work globally » 08:0403/2303/23/20
Livent announced recent…
Livent announced recent developments affecting its lithium production operations in Argentina as a result of the COVID-19 global pandemic. On March 19, the government of Argentina enacted an emergency decree ordering a national mandatory quarantine effective from March 20 through March 31. Upon issuance of this government decree, Livent began the process of stopping operations and safely moving employees and contractors off the mountain where the Salar del Hombre Muerto is located. This was a multi-day process, and the company suspended all its production operations in the Argentinian provinces of Catamarca and Salta as of mid-day on Sunday, March 22. On March 20, the Argentinian government issued a second decree allowing for certain exemptions. Livent believes it qualifies for an exemption under this second decree and is working closely with provincial and federal authorities to be given an authorization that would allow operations to resume. There is no certainty at this time that Livent will receive such an authorization. In addition, because of the significant practical constraints resulting from actions being taken by authorities around the world in response to the COVID-19 pandemic, the Company has elected to suspend all capital expansion work globally. Livent intends to restart these capital projects as soon as possible and remains committed to its long-term expansion plans.
RBC Capital to hold a tour » 08:1903/0903/09/20
AXTA, CCK, DD, FMC, LTHM
Mid-Atlantic Materials Bus Tour travels throughout Philadelphia, PA and Wilmington, DE on March 9.