|Bid||50.18 x N/A|
|Ask||50.20 x N/A|
|Day's Range||47.00 - 51.28|
|52 Week Range||16.01 - 70.13|
|Beta (5Y Monthly)||1.48|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 28, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Jun 19, 2019|
|1y Target Est||51.00|
Ganfeng Lithium Co, one of the world's top lithium producers, on Wednesday posted a sixty-fold rise in first-quarter profit as higher prices for the commodity used in electric-vehicle batteries added to bumper income from financial assets. The Chinese company, which counts automakers Tesla and BMW among its customers, said in a filing its net profit in January-March was 476.1 million yuan ($73.44 million). That was up from 7.75 million yuan in the first quarter of 2020, when a knock to demand from coronavirus exacerbated lithium oversupply and further depressed prices, but was down from 694.2 million yuan in the fourth quarter.
Moody's Investors Service says that Tianqi Lithium Corporation's (Caa2 negative) proposed financing from the sale of interest in its subsidiary to IGO Limited and its term loan amendment plan are credit positive because their completion will likely improve Tianqi Lithium's capital structure and liquidity. Tianqi Lithium disclosed in an announcement dated 9 December that Australian mining company IGO Limited had agreed to acquire a 49% stake in its subsidiary, Tianqi Lithium Energy Australia Pty Ltd (TLEA), by subscribing to new shares issued by TLEA for a consideration of USD1.4 billion.
Moody's Investors Service has downgraded to Caa2 from Caa1 Tianqi Lithium Corporation's corporate family rating (CFR), and to Caa3 from Caa2 the senior unsecured rating on the bonds issued by Tianqi Finco Co., Ltd and guaranteed by Tianqi Lithium. In an announcement dated 1 December, Tianqi Lithium stated that it had on 30 November signed a loan extension agreement with its banks for a USD1.9 billion term loan facility due 29 November, extending the maturity to the earlier of 28 December 2020 or the effective date of an amended loan agreement.