3. Livent Corporation (NYSE:LTHM)
Number of Hedge Fund Holders: 31
Livent Corporation (NYSE:LTHM) engages in the development, manufacture, and distribution of lithium for applications in consumer electronics and electric vehicles. Livent Corporation (NYSE:LTHM) is a leading player in the lithium battery market. The company has a strong presence in the industry with its innovative products and technology. Livent Corporation (NYSE:LTHM) has a strong client base and a strong market share. The company is well-positioned to grow in the lithium battery market and is ranked high among the best lithium battery stocks to buy now.
On October 27, B. Riley analyst Matthew Key started coverage of Livent Corporation (NYSE:LTHM) with a Neutral rating and a price target of $32, up from $30. This October, Citi analyst P.J. Juvekar raised his price target on Livent Corporation (NYSE:LTHM) to $32 from $27 and maintained a Neutral rating on the shares.
At the end of Q2 2022, 31 hedge funds held stakes in Livent Corporation (NYSE:LTHM) worth $360 million. This is compared to 30 positions in the previous quarter with stakes worth $294 million. As of September 30, Joho Capital is the top investor in Livent Corporation (NYSE:LTHM) and has a position worth $91.2 million in the company.
Here is what First Pacific Advisors had to say about Livent Corporation (NYSE:LTHM) in its third-quarter 2022 investor letter:
“Livent Corporation (NYSE:LTHM) is an integrated, low-cost lithium miner and processor that was spun out of FMC Corporation in 2018.9 Lithium is an essential component of electric vehicle batteries, is chronically undersupplied and spot Lithium Carbonate continues to hit new highs even as other commodity prices have come down. 10 Livent is currently running at roughly breakeven profitability, but our work suggests they will benefit from rising Lithium prices and credible capacity expansion plans. This is an unusual investment for us – we are generally wary of our ability to forecast commodity markets and we have sized the Livent position commensurately.”
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