Arcadium Lithium (NYSE:ALTM) Downgraded by KeyCorp to “Hold”

KeyCorp cut shares of Arcadium Lithium (NYSE:ALTM) from a strong-buy rating to a hold rating in a report published on Thursday morning, Zacks.com reports.

Several other research firms have also issued reports on ALTM. Scotiabank upgraded shares of Arcadium Lithium from a hold rating to a strong-buy rating in a research report on Monday, October 7th. Royal Bank of Canada upgraded shares of Arcadium Lithium to a moderate buy rating in a research report on Tuesday, June 25th. Hsbc Global Res upgraded shares of Arcadium Lithium to a hold rating in a research report on Thursday. Finally, UBS Group upgraded shares of Arcadium Lithium to a hold rating in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $11.00.

Arcadium Lithium Stock Performance

Shares of ALTM stock opened at $5.56 on Thursday. The company’s 50-day simple moving average is $2.87 and its 200-day simple moving average is $3.58. Arcadium Lithium has a one year low of $2.19 and a one year high of $18.96. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 5.35 and a beta of 1.61.

Arcadium Lithium (NYSE:ALTM) last issued its earnings results on Tuesday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The business had revenue of $254.50 million during the quarter, compared to the consensus estimate of $253.63 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.