Will these lithium stocks keep gaining in the market?
There have been numerous lithium stocks that are trending in the market in August. This is happening as a result of the increasing popularity of electric vehicles. In 2021, there are anticipated electric vehicles that could have a range of more than 500 miles. This is the reason that this has become such an enormous industry. As a result, electric vehicle stocks have grown in popularity on a mass scale in the last year.
Lithium plays a very significant part in electric vehicles. At the moment, most electric vehicles are using lithium-ion batteries in their cars. This means that the demand for lithium has increased with the popularity of electric vehicles over time. This has been especially apparent in the last year. There are many lithium stocks that have risen to popularity as a result of the electric vehicle growth.
Lithium stocks are still in a volatile position despite all of the positives going for them. Inflation is a big fear in the market as it has started to take place in the United States. If another battery technology is found that could replace lithium that could hurt the sector as well. Despite the volatility of lithium stocks, there are many great options if you are looking to invest. Let’s take a look at three lithium stocks that are increasing in value today.
Top Lithium Stocks To Watch
- Albemarle Corporation (NYSE: ALB)
- Livent Corporation (NYSE: LTHM)
- Lithium Americas Corp. (NYSE: LAC)
Albemarle Corporation (NYSE: ALB)
Ablemarle Corporation is a lithium stock that just went up in value today. This company develops, manufactures, and markets all of its products. The company primarily sells Lithium, Bromine, and Catalysts. Included in these are materials for lithium batteries used in electric vehicles and electronics.
At the start of August, Albemarle released its second quarter results for 2021. The company’s adjusted diluted EPS increased 4% to $0.89 during the quarter. The company’s net income totaled $424.6 million for the quarter as well. Albemarle’s adjusted EBITDA went up 5% to $194.6 million year over year too.
CEO Kent Masters said, “We are focused on executing our accelerated growth strategy. We are in the final stages of two lithium projects which are expected to double our nameplate capacity to about 175,000 metric tons, including La Negra III/IV where construction is complete and commissioning is progressing.” With all of this in mind, will ALB enter your list of lithium stocks to watch?
Livent Corporation (NYSE: LTHM)
Livent Corporation is another lithium stock that is going up in the market right now. This is a manufacturing company 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.
On August 5th, the company released its second quarter results for 2021. The company’s revenue increased 11% from the first quarter of this year. Its revenue was also 57% higher than the previous year at $102.2 million.
President and CEO Paul Graves said, “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.” So will LTHM make your lithium stock watchlist?
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a mining stock that just increased significantly in the market. This is a company that explores for lithium deposits. The company holds interest in the Cauchari-Olaroz Project, Thacker Pass project, and more. These projects are located in Argentina and Nevada. On August 18th, LAC stock went up by more than 9% in the market. So what has the company been up to that is causing its stock price to go up?
At the beginning of August, Lithium Americas reported its second quarter financial results for 2021. The company’s net loss and expenses both increased year over year. While this seems bad on the surface, LAC stock is still performing well at the moment. This higher net loss is attributed to higher Thacker Pass expenditures and a $4.7 million loss on the JEMSE transaction the company made. Keeping this info in mind, is LAC stock a contender for your watchlist in August?
Lithium Stocks To Buy In 2021?
It can be difficult to decide which lithium stocks are the best to buy in 2021. There are a few precautionary steps that an investor can make before joining this sector, or any for that matter. These seem rather obvious on the surface but can often be overlooked even by seasoned investors. World news, sector news, and company news all have a significant impact on mining stocks. So which lithium stocks will make your watchlist in August 2021?
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