Will these lithium stocks continue rising in September?
There are many lithium stocks that have been trending in the market in August. Lithium is a precious mineral that is mined and primarily used in lithium-ion batteries. These lithium-ion batteries power many electronics that you use in your everyday life. Battery technology has become a primary go-to when making an electronic product.
The market for electric vehicles has drastically increased in the last decade. Electric vehicle numbers continuously rise year over year without fail. Companies like Tesla Inc. have seen huge momentum because of this automotive trend. So how is lithium related to these vehicles you may ask? Well, the popular lithium-ion batteries are used in electric vehicles including Teslas. Lithium-ion batteries are essential for most if not all production electric vehicles on the road at the moment. So as the demand for lithium-ion batteries goes up, more lithium is needed to produce it. It is the classic case of supply and demand.
Some think that the lithium rally is over in the market. But it seems like there are still plenty of these mining stocks that are showing high performance in the market. There are many ways to look for the top lithium stocks to watch. Looking at recent news and the latest updates in the market can help when investing in this sector. Let’s look at three lithium stocks performing well in the market right now.
Top Lithium Stocks To Watch
- Albemarle Corporation (NYSE: ALB)
- Lithium Americas Corp. (NYSE: LAC)
- American Battery Metals Corporation (OTC: ABML)
Albemarle Corporation (NYSE: ALB)
Ablemarle is a chemical company that develops, manufactures, and markets its products. The company primarily sells Lithium, Bromine, and Catalysts. Included in these is materials for lithium batteries used in electric vehicles and electronics. So what has ALB stock’s performance looked like in August 2021?
On August 4th, Albemarle released its second-quarter results for 2021. In this time period, the company reported a net income of $424.6 million. Its net sales were at $773.9 million, which was an increase of 1% year over year. Excluding FCS, Albemarle’s net sales rose 5%. Albemarle’s adjusted EBITDA rose by 5% 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. We are firmly focused on advancing all our lithium projects to meet customer demand and accelerate profitable growth.” Will you add ALB stock to your lithium watchlist this month?
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a resource exploration company that searches for lithium deposits in a variety of locations. The company has 100% interest in the Cauchari-Olaroz Project, Thacker Pass project, and more located in Argentina and Nevada. So why has LAC stock been going up in the market this week?
On August 5th, the company reported its second-quarter results for 2021. LAC’s expenses, net loss, and loss per share all rose year over year. But the company’s cash and cash equivalents have grown significantly in 2021. The higher net loss has to do with higher Thacker Pass expenditures and a $4.7 million loss on the JEMSE transaction.
In May, the company announced a partnership with Ganfeng Lithium Co. Ltd. and the approval to start development planning for a second stage expansion of another 20,000 tpa of lithium carbonate equivalent. On August 30th, LAC stock has increased by more than 3.65% in the market. Will you add this company to your list of lithium stocks to watch?
American Battery Metals Corporation (OTC: ABML)
American Battery Metals Corporation is another lithium stock that just went up in value today. This is a company that explores, mines, extracts, and recycles battery materials. The company currently owns about 1,300 lithium mining claims in more than 30,000 acres of land all over the world. The land in question is located in the Western Nevada basin in Nye County, Nevada.
On August 30th, the company announced that it has appointed Ryan Melsert as the new CEO. This leadership transition is to prioritize the company’s technology development and commercialization efforts to position the company for long-term growth. The company is currently in the process of changing its name to American Battery Technology Company.
The new CEO, Ryan Melsert said, “We have an unprecedented set of tailwinds behind us as our technologies simultaneously address the critical needs of mitigating global climate change and the environmental impact of conventional battery metals mining, of producing lower-cost battery metals to increase the penetration of electric storage solutions throughout the market, and of increasing domestic production of battery metals to improve security of supply and national security interests.” Following the announcement, ABML stock is up 4.29% in the market. With this in mind, will ABML make your lithium stock watchlist?
Hot Lithium Stocks To Buy?
When searching for lithium stocks to buy, it is important to make wise decisions. Often investors will make an impulsive decision based on short-term gains that a lithium stock is making. Analyzing how a company performs over time can be very helpful when investing in the stock market. For now, which lithium stocks will end up on your mining watchlist?
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