Does Livent Corporation (LTHM) Have Strong Growth Prospects?
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. Small-cap stocks posted solid returns in the fourth quarter for the first time in 2022. The Russell 2000 Growth Index was up 4.11% trailing the Russell 2000 Value Index, which returned 8.39% in the quarter. For the year 2022, small-cap stocks posted disappointing results. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Livent Corporation (NYSE:LTHM) in the Q4 2022 investor letter. Headquartered in Philadelphia, Pennsylvania, Livent Corporation (NYSE:LTHM) is a performance lithium compounds manufacturer and distributor. On February 1, 2023, Livent Corporation (NYSE:LTHM) stock closed at $26.10 per share. One-month return of Livent Corporation (NYSE:LTHM) was 37.59%, and its shares gained 18.37% of their value over the last 52 weeks. Livent Corporation (NYSE:LTHM) has a market capitalization of $4.682 billion.
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."
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Livent Corporation (NYSE:LTHM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Livent Corporation (NYSE:LTHM) at the end of the third quarter which was 30 in the previous quarter.
We discussed Livent Corporation (NYSE:LTHM) in another article and shared the list of cheap lithium stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
