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 report issued to clients and investors on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Raymond James downgraded Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Hsbc Global Res upgraded Arcadium Lithium to a “hold” rating in a research report on Thursday, October 10th. TD Cowen lowered shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 14th. UBS Group raised shares of Arcadium Lithium to a “hold” rating in a research note on Tuesday, September 3rd. Finally, Piper Sandler upgraded shares of Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.00.

Arcadium Lithium Stock Performance

Shares of Arcadium Lithium stock opened at $5.30 on Monday. Arcadium Lithium has a one year low of $2.19 and a one year high of $18.77. The company has a market cap of $5.70 billion, a P/E ratio of 19.87 and a beta of 1.48. The firm has a fifty day moving average of $4.03 and a two-hundred day moving average of $3.78.

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