Top Lithium Stocks To Watch
Chances are you have heard about lithium stocks if you are investing in the mining sector. The last year has been quite the crazy year for lithium related assets. Nobody knew what would happen to the stock market when the pandemic took over the world. Nobody knew that mining stocks would take off in value throughout all of 2020. The question on your mind may be, what drove lithium stocks in particular to reach new heights in the market?
Well, the primary reason for the lithium stock uptick has to do with the electric vehicle market. Electric vehicles are the fastest growing automotive trend in the world at the moment. Many believe that electric vehicles will be the future of the automotive sector. So with the big hype around this market, the materials involved in making EVs are in high demand.
One of these materials just so happens to be lithium. Lithium is being used to create lithium ion batteries, the most common type of battery used in production electric vehicles. As you know by now, electric vehicle stocks have been huge gainers in the last year. Often when EV stocks perform well, lithium stocks do in tandem. This is similar to the market for copper stocks, as copper is a key material used in EVs as well.
So how do you select which lithium stocks are the best to invest in? Well, the highest performing lithium stocks are generally those who have contracts with major electric vehicle manufacturers such as Tesla. There are still plenty of lithium stocks to take a look at in the market during 2021. So let’s take a look at four of these lithium stocks that are trending in the market at the moment.
Top Lithium Stocks To Watch
- Lithium Americas Corp. (NYSE: LAC)
- Livent Corporation (NYSE: LTHM)
- Westwater Resources Inc. (NYSE: WWR)
- Comstock Mining Inc. (NYSE: LODE)
Lithium Americas Corp.
Lithium Americas Corp. has been a huge lithium stock gainer in the last year. The return to investors who got in early has been huge. Lithium Americas is a resource company searching for lithium deposits. It holds interest in many different projects throughout the world. In its recent full year and fourth quarter results, Lithium Americas had positive progression performance.
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Despite this, its income fell year over year. Yet still, its cash and cash equivalents significantly went up year over year. One year ago, LAC stock price was at about $3 a share on average. Can you guess how much this lithium stock has gained in just 365 days? LAC stock is at $14.30 a share as of March 30th. The positive performance of this lithium stock is a good generalization of how stocks of this nature have been performing. At one point, LAC stock even reached nearly $27 a share, a new record high for Lithium Americas. As the lithium market continues to grow, it seems that LAC stock does as well, despite its ups and downs.
Let’s talk about another lithium stock that has seen significant progress in the last year. Livent Corporation is another one of the largest lithium stock gainers. Livent is a manufacturing and selling company for lithium ion batteries. It also deals in specialty polymer and chemical synthesis applications. The most recent update from the lithium company came from February 18th, when it released its fourth quarter and full year 2020 results.
In these results its volumes went up, it expanded its sustainability goals, and had higher realized pricing and lower costs. One key development has stood out above the rest in terms of Livent’s future though. In the last quarter of 2020, Livent announced a multi-year partnership with BMW Group. This partnership is in order to deliver BMW lithium hydroxide and carbonate. Paul Graves, President and CEO of the company said, “Multi-year, multi-application agreements with premier OEMs, like BMW Group, reflect Livent’s position as a global leader in the lithium industry with a differentiated product offering, proven track record and sustainability profile.” Time will tell how this key development for Livent will cause the company to perform.
Westwater Resources Inc.
Westwater Resources Inc. is yet another lithium stock that proves that this sector is booming. This is an energy materials company that has a diverse product lineup. It mostly explores for lithium, graphite, uranium, and Vanadium deposits. This lithium penny stock has seen significant growth in the last few months. The company continues to make key developments week after week. The latest of which, comes from March 24th. The company announced that its Pilot Program achieved a key production milestone.
Westwater produced 9.7 metric tons of ULTRA-PMG, 1.5 metric tons the precursor for ULTA-CSPG, and 0.2 metric tons of ULTRA-DEXDG samples. These three products are its battery-grade graphite products. In regards to production dates the CEO of Westwater Chris Jones stated, “Samples of all three of our products have been requested by multiple battery producers, and we expect to ship product to them within 30-90 days.” In the last 6 months, WWR stock has gone from under $3 a share to over $5 a share.
Comstock Mining Inc.
The last company on this list, is a lithium penny stock just like Westwater Resources. Comstock Mining has seen even more gains than the previous mentioned lithium stock. Comstock is an exploration, development, and production focused mining corporation. The company mainly hunts for gold and silver in the Nevada region. Its two segments consist of mining and real estate. There are some new things coming up for the lithium company.
On March 25th Comstock announced the date of its annual shareholders meeting. This meeting will take place on June 3rd, 2021. This could be a key day in the market for LODE stock depending on how things go. The company recently appointed Alexia Sover as its mercury market and grant manager, as well as a board member for Comstock. With more than 15 years of experience in this industry, it seems to be a positive for the company. In just 3 months, LODE stock has gone from about $1 a share to nearly $5 a share as of March 30th.
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