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    A373220   KR7373220003

LG ENERGY SOLUTION, LTD.

(A373220)
  Report
End-of-day quote Korea Stock Exchange  -  2022-09-22
460500.00 KRW   -5.73%
09/23Canada, South Korea seek deeper cooperation on critical minerals
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LG Energy inks cobalt, lithium supply deals with three Canadian miners

09/22/2022 | 08:09pm EDT
FILE PHOTO: An employee walks past the logo of LG Energy Solution at its office building in Seoul

SEOUL (Reuters) - South Korean battery maker LG Energy Solution said on Friday it has signed agreements on lithium and cobalt sourcing with three Canadian mining firms in a bid to expand its footprint in North America.

The Tesla supplier said in a statement the agreements were part of an effort to expand mid- to long-term supply contracts with companies that mine and process key battery materials in North America.

The U.S. Inflation Reduction Act (IRA), signed into law by U.S. President Joe Biden in August, requires a percentage of critical minerals used in electric vehicle (EV) batteries come from the United States or an American free-trade partner.

LG said the three Canadian mining firms, Electra, Avalon and Snowlake, will supply LG with 7,000 tonnes of cobalt sulfate for three years from 2023, 55,000 tonnes of lithium hydroxide for five years from 2025, and 200,000 tonnes of lithium hydroxide for 10 years, respectively.

(Reporting by Joyce Lee; Editing by Sherry Jacob-Phillips)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AVALON HOLDINGS CORPORATION -3.82% 2.77 Delayed Quote.-20.22%
LG ENERGY SOLUTION, LTD. -5.73% 460500 End-of-day quote.0.00%
TESLA, INC. -4.59% 275.33 Delayed Quote.-21.84%
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Analyst Recommendations on LG ENERGY SOLUTION, LTD.
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Financials
Sales 2022 22 130 B 15,6 B 15,6 B
Net income 2022 869 B 0,61 B 0,61 B
Net cash 2022 26,9 B 0,02 B 0,02 B
P/E ratio 2022 123x
Yield 2022 0,01%
Capitalization 107 757 B 76 001 M 76 001 M
EV / Sales 2022 4,87x
EV / Sales 2023 3,67x
Nbr of Employees 9 926
Free-Float 14,7%
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Technical analysis trends LG ENERGY SOLUTION, LTD.
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 27
Last Close Price 460 500,00 KRW
Average target price 537 296,30 KRW
Spread / Average Target 16,7%
EPS Revisions
Managers and Directors
Young-Soo Kwon Chairman & Chief Executive Officer
Sang-Hyeon Lee Managing Director & Head-Finance
Young-Joon Shin Chief Technology Officer
Mi-Nam Shin Independent Director
Mi-Suk Yeo Independent Director
Sector and Competitors