Ruffer LLP bought a new position in Livent Corporation (NASDAQ:LTHM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,922,198 shares of the company’s stock, valued at approximately $27,161,000. Livent accounts for about 0.6% of Ruffer LLP’s holdings, making the stock its 25th largest holding. Ruffer LLP owned about 2.69% of Livent as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Gamco Investors INC. ET AL bought a new position in Livent during the first quarter valued at about $766,000. Skylands Capital LLC bought a new position in Livent during the first quarter valued at about $2,914,000. Bank of Montreal Can bought a new position in Livent during the first quarter valued at about $310,000. Optima Fund Management LLC bought a new position in Livent during the first quarter valued at about $191,000. Finally, New York State Teachers Retirement System bought a new position in Livent during the first quarter valued at about $2,772,000.
LTHM has been the topic of several recent research reports. Zacks Investment Research lowered Livent from a “hold” rating to a “sell” rating in a report on Thursday, August 15th. Nomura set a $9.00 target price on Livent and gave the company a “hold” rating in a report on Wednesday, August 7th. Argus lowered Livent from a “buy” rating to a “hold” rating and set a $7.58 target price on the stock. in a report on Thursday, May 16th. Citigroup set a $8.00 price objective on Livent and gave the stock a “hold” rating in a research note on Monday, August 12th. Finally, Bank of America lowered Livent from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $10.00 to $7.00 in a research note on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $15.11.
Livent (NASDAQ:LTHM) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $114.00 million during the quarter, compared to the consensus estimate of $108.85 million. The company’s revenue was up 5.7% compared to the same quarter last year.
Livent Corporation manufactures and sells performance lithium compounds that are used primarily in energy storage, specialty polymers, and chemical synthesis application. The company offers lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in high performance lithium-ion batteries; and supplies butyllithium, which is used as a synthesizer in the production of polymers and pharmaceutical products, as well as a range of specialty lithium compounds, including high purity lithium metal, which is used in the production of lightweight materials for aerospace applications and non-rechargeable batteries.
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