Will These Lithium Stocks Perform Well This Year?
The lithium mining sector has seen an immense amount of growth in the last year. When investing in mining stocks, many will focus on gold and silver trading. But the problem here is that investors are missing out on one of the largest growing mining stock markets in doing so. Lithium is a material that is mined for and used in various places—for example, the electric vehicle sector. Electric vehicles use electric batteries, which are generally lithium-ion batteries. As you know, the EV sector has grown massively in the last decade. A lot of this can be attributed to Tesla, which has distributed the most electric vehicles to date. It has been made clear that this is an automotive trend that is not going away any time soon. Lithium stocks have been steadily inclining for a while now.
Some of these companies gained most of their value in the last year. This has caused more and more investors to flock to the rare mineral that is used in batteries. Tech stocks have also been rapidly increasing in popularity recently. Lots of technology products use lithium-ion batteries as well, not just electric vehicles. Electronics are at a peak at the moment, as many people are stranded indoors due to the pandemic. This means gaming, music, and more are all things that people are using more than ever. Some think that the uphill climb of lithium stocks has already passed, and it is too late. But this is far from the truth. This mineral is being used more and more as technology advances. So let’s have a look at four lithium stocks that are performing well in the market.
Top Lithium Stocks To Watch
- Albemarle Corporation (NYSE: ALB)
- Livent Corporation (NYSE: LTHM)
- FMC Corporation (NYSE: FMC)
- Lithium Americas Corp. (NYSE: LAC)
First up let’s talk about Albemarle Corporation. Albemarle is a corporation that develops, manufactures, and markets engineered specialty chemicals. It operated in three different segments, being Lithium, Bromine Specialties, and Catalysts. Its Lithium segment sells lithium compounds like lithium carbonate, lithium, hydroxide, and more. These are used for batteries in electric vehicles among a variety of other things. Albemarle’s cesium products are used in pharmaceutical and chemical industries. Let’s take a look at this company’s recent 2021 performance.
The latest from Ablemarle comes from February 2nd. The company provided a fourth quarter 2020 update. Ablemarle announced net sales between $870 and $870 million, down 11% to 12%, but above prior outlook. Its net income also fell. Yet still in the last 6 months, this lithium stock has gone from $68 a share on average to $170 a share on average as of February 2nd. It will be interesting to see the next update from the company, and if it is able to recover some of its losses from the fourth quarter.
Next up on this lithium stock list is Livent Corporation. Livent is a manufacturing business that makes and sells lithium batteries. The company also sells polymer and chemical synthesis applications as well. It operates in North America, Latin America, Europe, Middle East, Africa, and the Asia Pacific. Livent offers lithium compounds for use in applications like lithium hydroxide for potteries as well. So how is Livent’s 2021 performance looking so far?
Well, the company’s latest update comes from January 25th. This is when the company announced that it will be releasing its fourth-quarter 2020 earnings soon. The current set date is Thursday, February 18th, 2021. This is likely when we will see the next significant movement of LTHM stock price. For now, LTHM stock could potentially make your watch list due to the upcoming earnings season in this sector.
Next up is FMC Corporation. FMC is an agricultural science corporation that sells a plethora of items. FMC does crop protection, plant health, and more products. It sells products like insecticides, herbicides, and fungicides for agricultural purposes. It also offers other products in the biological range as well. The company has been able to recover and go higher before in stock price. Now that we have reached 2021, how is FMC stock performing so far?
The latest update from FMC comes from February 1st, 2021. The company announced a collaboration with Novozymes to co-develop enzyme solutions. This collaboration will concentrate on enzyme-based biocontrol technology for the global fungicide and insecticide markets under a multi-year global agreement. The President and CEO of the company stated, “FMC is committed to delivering differentiated biological products that provide growers with science-backed solutions to help sustainably manage crops, protect yields, and combat resistance.” Now we wait to see how this could potentially affect FMC stock price in the market.
Lithium Americas Corp.
The final company to discuss is Lithium Americas Corp. Lithium Americas Corp. is a resource corporation that explores for lithium deposits. The business holds interest in the Cauchari-Olaroz Project, Thacker Pass project, and more. These developments are located in Argentina and Nevada. Now let’s have a look at the company’s performance now that we’ve reached the new year. January was an interesting month of ups and downs for LAC stock, so it will be interesting to see how it does in February.[Read More] Top Mining Stocks For Your Watch List
The latest from the company comes from January 22nd. Lithium Americas announced the closure of a $400 million underwritten public offering. It issued 18,181,818 common shares at $22 per common share. The net proceeds will be used to fund the development of the Thacker Pass lithium project, as well as corporate purposes. Just 6 months ago, this lithium stock was around $7 per share on average. This shows the true growth of the lithium sector in the last year.
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