These lithium stocks just released quarterly results; will they rise in the market?
Lithium stocks have been quite popular in the last few years. This rapid popularity growth has occurred for one main reason. This material is often used to create lithium-ion batteries, which are used in a large variety of electronics. There is likely some item you use every day that has lithium-ion batteries in it. But this is not even the largest contributing factor to the growth of lithium stocks.
Lithium-ion batteries are used in most if not all production electric vehicles at the moment. The EV market is growing in popularity at a fast rate. There are millions of electric vehicles on the road already, and many believe it is the future of the automobile. Many major automakers have plans to or already have started to make electric vehicles. As lithium-ion batteries remain the best option for these cars, the market for the material continues to grow year over year.
So how do you know which lithium stocks you should keep your eye on? Well, there are many popular corporations to consider for your watchlist. Companies that have distribution or manufacturing deals with large automakers such as Tesla Inc. (NASDAQ: TSLA) are key to take note of. It is also important to look at the latest updates and announcements from the company you plan on investing in. Noting the above information, let’s look at three lithium stocks that are performing well in the market today.
Top Lithium Stocks To Watch
- Livent Corporation (NYSE: LTHM)
- Albemarle Corporation (NYSE: ALB)
- Lithium Americas Corp. (NYSE: LAC)
Livent Corporation (NYSE: LTHM)
Livent Corporation is a lithium stock that is performing well in the market today. This company sells lithium compounds that are used in lithium-ion batteries. The company also sells lithium phosphate, lithium carbonate, lithium chloride, and organics. This is a lithium stock we mention frequently on this site due to its uptick in the market. So what has Livent Corporation been up to recently?
On August 5th, Livent released its second-quarter financial results for 2021. The company announced higher volumes in this release. In total, Livent’s revenue went up 57% year over year and 11% quarter over quarter. It also announced its full-year 2021 guidance and a $262 million equity issuance to fund capacity expansion.
President and CEO Paul Graves said, “We were pleased to complete the equity issuance and are focused on executing on our capacity expansion projects, which are progressing on schedule. Increasing production capacity and building upon our low cost and sustainable operations will strengthen our commercial footprint and enhance our position as a partner of choice to leading auto OEMs and battery producers.” Now that you know all of this information, is LTHM a contender for your list of lithium stocks to watch?
Albemarle Corporation (NYSE: ALB)
Albemarle Corporation is a lithium corporation that sells lithium carbonate, hydroxide, chloride, and other lithium specialties. Its products are used for lithium batteries and high-performance greases, rubber soles, plastic bottles, and more. These products are sold to companies involved in construction, automotive, pharmaceuticals, and more.
On August 4th, Albemarle reported its second-quarter results for 2021. The CEO of the company, Kent Masters said, “Albemarle delivered another strong quarter, generating $195 million in adjusted EBITDA, driven by continued strength in demand for our Lithium and Bromine products. We are focused on executing our accelerated growth strategy.”
Currently, Albemarle is in the final stages of two lithium projects that it expects to double its total capacity with. This includes La Negra III/IV, in which construction has been completed and commissioning has started. Albemarle expects its capacity to be increased to 175,000 metric tons after these projects are completed. With this in mind, is ALB going to make your lithium stock watchlist?
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a lithium stock that is going up a lot in the market right now. This company explores for lithium deposits and sells the resulting product. It owns an interest in the Thacker Pass project in Nevada, the Cauchari-Olaroz Project in Argentina, and more.
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Just like the others on this list, Lithium Americas Corp. just reported its second-quarter earnings on August 5th. In the six months ended June 30th, 2021 the company’s total assets and cash increased. This is due in part to the company’s $377.4 million net proceeds from the underwritten public offering of common stock.
Now, on August 9th, LAC stock is up more than 4.7% in the market. The company’s volume is more than one million higher than its average at the moment as well. Noting all of this information, is LAC stock going to make your watchlist this month?
Top Lithium Stocks To Buy?
As we begin a new month in 2021, it will be interesting to see how lithium stocks perform. The market for lithium stocks has been growing over a long period of time. On August 9th, most if not all lithium stocks are up in the market. This follows a lot of corporations releasing their second-quarter results. Now that you know all of this information, which lithium stocks will you add to your watchlist?
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Been following LAC for a while now, and just came all on board. Their large Argentina mine will be coming online in 2022, with a planned capacity expansion shortly after, and their US Thacker Pass mine is the largest lithium deposit in the North America (2nd largest in the world). Too many positive converging factors to list here. late 2021 and early 2021 should see the stock hit new all time highs IMO.