ALTM - Why Arcadium Lithium Stock Just Jumped 12%
2024-04-29 11:00:00 ET
Shares of Arcadium Lithium (NYSE: ALTM) , the giant lithium mining stock formed from the merger of America's Livent and Australia's Allkem in January, exploded higher on Monday, rising 12.2% through 10 a.m. ET. And the reason? The company just filed an amended 10-K annual report with the U.S. Securities and Exchange Commission (SEC), giving investors its latest up-to-date numbers on how it looks post-merger.
What did investors learn about Arcadium today? Let's start with the basics.
Arcadium Lithium boasts a market capitalization of $4.2 billion, with cash and debt levels roughly in balance (only about $70 million more debt than cash). The company did $882 million in sales last year, earned $400 million in operating profit, and $330 million in net profit, and therefore sells for a very reasonable 12.7x trailing earnings.
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Why Arcadium Lithium Stock Just Jumped 12%