With Our Long-Term Lithium Outlook Intact, We Maintain Our Livent FVE; Shares Undervalued
Livent reported decent fourth-quarter results as adjusted EBITDA grew 5% year on year. Higher volume and favorable foreign-exchange movements were partially offset by higher operating costs. In its 2019 outlook, Livent noted it is facing declining prices and weaker demand from its longer-term contract customers in China for lithium hydroxide. This is in line with our outlook that lithium prices will fall over the medium term from current prices around $12,000 per metric ton (on a Chilean export ...Livent manufactures lithium. The company's primary products, namely battery-grade lithium hydroxide, butyllithium and high purity lithium metal are inputs used in various applications. The company produces lithium compounds for use in applications that have specific performance requirements, including battery-grade lithium hydroxide for use in lithium-ion batteries. The company also 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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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