ALTM Stock Summary and Trading Ideas (Arcadium Lithium PLC | NYSE:ALTM)

Arcadium Lithium is a pure-play lithium producer that was formed by the Allkem-Livent merger in January 2024. Now management has agreed to a deal for Arcadium to be acquired by Rio Tinto in an all-cash transaction that should close in 2025. Arcadium 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 two brine resources in Argentina. Arcadium also produces spodumene, a hard rock lithium upstream concentrate, from a mine in Australia and operates downstream lithium hydroxide conversion plants in the United States and China.

Arcadium Lithium PLC trades on the NYSE stock market under the symbol ALTM.

As of November 12, 2024, ALTM stock price declined to $5.30 with 10,742,130 million shares trading.

ALTM has a beta of 1.40, meaning it tends to be more sensitive to market movements. ALTM has a correlation of 0.04 to the broad based SPY ETF.

ALTM has a market cap of $5.69 billion. This is considered a Mid Cap stock.

Last quarter Arcadium Lithium PLC reported $203 million in Revenue and $.01 earnings per share. This fell short of revenue expectation by $-65 million and missed earnings estimates by -$.03.

The top ETF exchange traded funds that ALTM belongs to (by Net Assets): IJH, IWM, VTI, VB, IWN.

ALTM support price is $5.34 and resistance is $5.40 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ALTM shares will trade within this expected range on the day.