Streetbeat News

LINRF

Liontown Resources Ltd

http://www.ltresources.com.au/

CEO

David Richards

Industry

Gold Ore Mining

Open

0.61

Mkt cap

1.2B

Volume

100

High

0.61

P/E Ratio

-25.35

52-wk high

1.38

Low

0.51

Div yield

N/A

52-wk low

0.38

Liontown Resources has entered a $250 million strategic partnership with LG Energy Solution to secure lithium supply. The deal includes a 15-year supply agreement and potential development of a lithium refinery. Liontown's stock rose over 7% on the news.

Portfolio Pulse from Stjepan Kalinic

July 02, 2024 | 2:39 pm

Albemarle (NYSE:ALB) plans to issue $2 billion in convertible preferred stock, equating to 13% of its market cap, following a 50% market cap reduction last year due to falling lithium prices and a failed acquisition of Liontown Resources (OTCPK: LINRF). The stock dropped 20% after the announcement, erasing February's gains. Despite a healthy balance sheet and low net debt/EBITDA ratio, analysts are surprised by the move. Lithium prices are rising, and Albemarle's shares are seen as undervalued by Morningstar. Piper Sandler rates Albemarle as Sell due to potential shareholder dilution and funding challenges for future projects.

Portfolio Pulse from Stjepan Kalinic

March 06, 2024 | 5:30 pm

Bitcoin's price spiked on false rumors of an ETF approval by BlackRock. Albemarle Corporation withdrew its offer to acquire Liontown Resources. Pfizer cut its annual revenue guidance by $9B due to a slump in COVID-19 vaccine sales, and BioNTech warned of €900M write-offs. Rite Aid filed for Chapter 11 bankruptcy. AstraZeneca's Tagrisso-Chemo combo is under FDA priority review. Honeywell projects a 10% increase in new business jet deliveries in 2024. WeWork appointed David Tolley as CEO. Novavax faces a setback as the EMA delays a decision on its COVID-19 vaccine. Activist shareholder Starboard Value acquired a stake in News Corp. Goldman Sachs is reconsidering its consumer lending venture. Manchester United shares fell as the Qatari group pulled away from acquisition. Apple is reshuffling its executive ranks and focusing on reducing the price of Vision Pro. Walgreens and CVS pharmacy staff are planning a nationwide walkout over poor working conditions.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 2:35 pm

Albemarle Corporation (NYSE:ALB) has withdrawn its non-binding offer to purchase Liontown Resources Ltd. (OTC:LINRF), a battery minerals producer owning one of the world's richest lithium deposits. The decision was influenced by growing complexities associated with the proposed transaction and Australian billionaire Gina Rinehart's increased investment in Liontown, which could block Albemarle's takeover.

Portfolio Pulse from Shivani Kumaresan

October 16, 2023 | 12:45 pm

Albemarle has formally withdrawn its non-binding offer to acquire Liontown Resources. The decision was made as Albemarle nears the end of its exclusive due diligence process. The company cited growing complexities associated with the proposed transaction as a factor in its decision.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 7:22 am

Australian billionaire Gina Rinehart has increased her stake in lithium producer Liontown Resources (OTC:LINRF) to 16.7%, potentially providing her with enough leverage to block Albemarle Corp's (NYSE:ALB) proposed $4.3 billion takeover of the company. Liontown Resources owns one of the world's richest lithium deposits and has secured a deal to supply battery materials to Ford Motor Company (NYSE:F).

Portfolio Pulse from Akanksha Bakshi

October 06, 2023 | 3:15 pm

Albemarle Corporation (ALB) has increased its bid to acquire all outstanding shares of Liontown Resources Ltd. (LINRF) for $4.32 billion. The previous offer, made in March, valued Liontown at $3.4 billion. The companies will now enter into a non-disclosure and exclusivity agreement. Albemarle also announced the closing of its C$109 million investment with Patriot Battery Metals Inc (PMETF).

Portfolio Pulse from Nabaparna Bhattacharya

September 04, 2023 | 3:01 pm

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