Shares of Livent Corporation (NYSE:LTHM) traded at a new 52-week high today of $25.60. Approximately 3.2 million shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.
Livent Corporation share prices have moved between a 52-week high of $25.60 and a 52-week low of $6.98 and are now trading 246% above that low price at $24.17 per share.
Livent is a pure-play lithium producer formed when FMC spun off its lithium business in October 2018. Livent should benefit from increased lithium demand via higher electric vehicle adoption, as lithium is a key component of EV batteries. The company’s low-cost lithium carbonate production comes from brine resources in Argentina. Livent also operates downstream lithium hydroxide conversion plants in the United States and China and has a 25% stake in a fully integrated Canadian lithium project.
There is potential upside of 39.2% for shares of Livent Corporation based on a current price of $24.17 and an average consensus analyst price target of $33.65.
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