Arcadium Lithium (NYSE:ALTM) Downgraded to Hold Rating by Scotiabank

Scotiabank cut shares of Arcadium Lithium (NYSE:ALTM) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other brokerages have also issued reports on ALTM. KeyCorp lowered Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of Arcadium Lithium to a “hold” rating in a research report on Thursday, October 10th. Piper Sandler upgraded shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upgraded Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. Finally, Macquarie cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Arcadium Lithium presently has a consensus rating of “Hold” and an average price target of $11.00.

Arcadium Lithium Stock Performance

ALTM stock opened at $5.22 on Monday. Arcadium Lithium has a one year low of $2.19 and a one year high of $18.77. The firm’s fifty day moving average is $4.15 and its 200 day moving average is $3.80. The firm has a market cap of $5.61 billion, a PE ratio of 19.44 and a beta of 1.48.

Arcadium Lithium (NYSE:ALTM) last announced its quarterly 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 analysts’ expectations of $263.14 million.

Arcadium Lithium Company Profile

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.