Livent (LTHM) Pulls Back After The Big Rally: A Good Buy?

Lithium is now in high demand across several industries and hence, companies that are involved in that space have become the subject of interest from plenty of investors.

One such company is Livent (NYSE: LTHM), which is involved in producing Lithium as well as Lithium compounds, and in recent days, its stock has also gained significant momentum. That could be due to the fact that last week Livent announced its financial results for the fourth quarter and also announced that it expects revenues to grow further in 2021.

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The revenues in the fourth quarter of 2020 came in at $82.2 million and that reflected a rise of as high as 13% from the previous quarter. The improvement was attributed to higher sales volume and better realization of pricing. On the other hand, Livent also announced that it signed a multi-year agreement with BMW Group by way of which it is going to supply the auto giant with carbonate and lithium hydroxide.

Jack Dawkins

Finance and Tech Contributor