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    A051910   KR7051910008

LG CHEM, LTD.

(A051910)
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End-of-day quote Korea Stock Exchange  -  05-26
550000.00 KRW   +3.00%
05/20S.Korean stocks end higher, post biggest weekly gain in 2 months
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05/16LG Chem, Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
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05/16LG Chem, Ltd. Develops Advanced Plastic Product to Prevent Thermal Runaway in EV Batteries
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Australia's Liontown signs supply deal with S.Korea's LG Chem, shares jump

01/11/2022 | 07:36pm EDT
The logo of LG Chem is seen at its office building in Seoul

(Reuters) - Australian lithium miner Liontown Resources Ltd said on Wednesday it signed a deal to sell lithium spodumene from its flagship project to the battery unit of South Korea's LG Chem, sending its shares soaring 13%.

LG Energy Solution, which counts Tesla Inc and General Motors Co as its customers, will buy 100,000 dry metric tonnes (DMT) of lithium spodumene -- a key raw material for making electric vehicle batteries -- from Liontown's Kathleen Valley project.

Liontown joins other lithium players in the country, like Vulcan Energy, to strike major supply deals with EV makers as the sector assumes centre stage amid a global push by companies and governments towards a greener future.

The company also said the deal -- a first for its Western Australia-based project -- will account for nearly 30% of its annual output after year one of production and is expected to be operating from 2024.

Liontown added that it had received "strong interest from a range of parties in long-term offtake from the Kathleen Valley Lithium Project," without offering details.

Its shares witnessed their biggest jump since October 2021 on Wednesday, building on a nearly 5-fold rise in the past year.

(Reporting by Savyata Mishra in Bengaluru; editing by Uttaresh.V)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MOTORS COMPANY 3.07% 38.57 Delayed Quote.-34.21%
LG CHEM, LTD. 3.00% 550000 End-of-day quote.-10.57%
LG CORP. 0.95% 74700 End-of-day quote.-7.66%
LIONTOWN RESOURCES LIMITED 3.13% 1.32 Delayed Quote.-22.89%
TESLA, INC. 7.33% 759.63 Delayed Quote.-33.03%
All news about LG CHEM, LTD.
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05/16LG Chem, Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2022
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Analyst Recommendations on LG CHEM, LTD.
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Financials
Sales 2022 48 947 B 39,1 B 39,1 B
Net income 2022 2 655 B 2,12 B 2,12 B
Net Debt 2022 7 175 B 5,74 B 5,74 B
P/E ratio 2022 15,5x
Yield 2022 1,99%
Capitalization 40 740 B 32 576 M 32 576 M
EV / Sales 2022 0,98x
EV / Sales 2023 0,89x
Nbr of Employees -
Free-Float 59,6%
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Mean consensus BUY
Number of Analysts 29
Last Close Price 550 000,00 KRW
Average target price 792 172,41 KRW
Spread / Average Target 44,0%
EPS Revisions
Managers and Directors
Hak Cheol Shin Chairman & Chief Executive Officer
Okdong Son President
Dong-Seok Cha Chief Financial Officer & Director
Ki-Soo No CTO & President-Executive Board
Young-Ho An Independent Director
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