5 Lithium Stocks Billionaires Are Loading Up On

2. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 32

Number of Billionaire Investors: 9

Livent Corporation (NYSE:LTHM) is a manufacturer and supplier of performance lithium compounds that are primarily utilized in lithium-based batteries, specialty polymers, and chemical synthesis applications. It is a lithium stock that is in high demand among billionaire investors.

On May 11, B. Riley analyst Matthew Key upgraded Livent Corporation (NYSE:LTHM) to Buy from Neutral with a price target of $32 following the company’s announcement of a merger agreement with Allkem. While the merger is still subject to regulatory and shareholder approval, the analyst believes that the transaction will result in the creation of a new US-listed lithium company valued at approximately $10.6 billion. In a research note to investors, the analyst expresses great optimism about the merger, highlighting the numerous advantages it brings to both Livent and Allkem. These advantages include increased scale, diversification of resources, and significant cost synergies due to the proximity of their assets, as stated by the firm.

According to Insider Monkey’s first quarter database, 32 hedge funds were bullish on Livent Corporation (NYSE:LTHM), compared to 29 funds in the prior quarter. Billionaire Ken Griffin’s Citadel Investment Group is the largest stakeholder of the company, with 1 million shares worth $23.7 million. 

Carillon Eagle Small Cap Growth Fund made the following comment about Livent Corporation (NYSE:LTHM) in its Q4 2022 investor letter:

“Livent Corporation (NYSE:LTHM) is a pure-play, fully integrated producer of performance lithium compounds. The stock underperformed amid investor concerns about how a potential decelerating rate of growth in overall electric vehicle (EV) production and demand, primarily in China, would affect the future price of lithium. Despite these potential near-term headwinds, longer-term the global lithium market remains tight, and we believe Livent plays a critical role in the battery value chain and remains well- positioned for the overall continued global adoption of EVs.”