Are these lithium stocks going to go up in value?
Lithium stocks have had their share of ups and downs in 2021. There are a few reasons why this industry has exploded in prominence in recent years. Electric vehicles are now a rapidly increasing market in the automobile industry. Many people believe that electric vehicles are the way of the future. Electric vehicle sales have been steadily expanding in the market every year without fail.
When it comes to electric vehicles, lithium is crucial. Lithium-ion batteries are currently used in the majority of electric vehicles. This means that as the popularity of electric vehicles has grown, so has the demand for lithium. As a result of the rise in popularity of electric vehicles, numerous lithium stocks have risen in favor. Some lithium stocks have risen by more than three times their value from a year ago.
Despite all of the positive developments, lithium stocks are still extremely volatile. It may seem impossible, but if more efficient battery technology is discovered, lithium might be phased out. Other types of batteries are being tested in electric vehicles by some businesses. However, lithium-ion batteries are currently the most common battery utilized in these cars. As our world gets more technologically advanced and digital, lithium’s market dominance will only grow. When lithium stocks are going downhill, some investors may believe the euphoria is over. However, several lithium stocks are frequently gaining by multiple percentages over the course of several weeks.
Top Lithium Stocks To Watch
- Albemarle Corporation (NYSE: ALB)
- Lithium Americas Corp. (NYSE: LAC)
- Piedmont Lithium Inc. (NASDAQ: PLL)
Albemarle Corporation (NYSE: ALB)
Albemarle Corporation is a lithium company that makes, sells, and develops tailored specialty chemicals. Lithium, Bromine Specialties, and Catalysts were the three segments in which it worked. Lithium compounds such as lithium carbonate, lithium hydroxide, and others are available in its Lithium division. This is used for a multitude of purposes, including batteries in electric vehicles. The pharmaceutical and chemical sectors employ its cesium products. Its bromine solutions are used in a variety of applications, including fire safety, chemical synthesis, water purification, and beef and poultry processing.
On September 30th, the company announced that it will be purchasing Guangxi Tianyuan New Energy Materials Co. Ltd. This company is a lithium converter that Albemarle will be purchasing for about $200 million. Tianyuan’s operations include a newly created lithium processing plant, which is expected to start commercial production next year.
CEO Kent Masters said, “This will be a key component of our next wave of projects designed to increase our conversion capacity in a capital-efficient manner in the coming years. As the global transition to cleaner energy rapidly develops, this added lithium capacity will enable us to help our customers achieve their growth and sustainability ambitions.” Keeping this in mind, will ALB make your lithium stock watchlist?
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a lithium exploration and development company. The Cauchari-Olaroz Project, the Thacker Pass Project, and other projects have piqued the company’s interest. Argentina and Nevada are the locations of these projects. This is yet another lithium company that has seen a lot of growth in recent years.
On October 7th, the company expanded its resource at Thacker Pass, and increased its phase 1 capacity to target 40,000 tpa lithium carbonate. It expanded its M&I resource estimate to 13.7 Mt LCE AT 2,231 ppm Li. Its permitting process is on track with a final decision expected in the first quarter of next year.
President and CEO Jonathan Evans said, “With Thacker Pass moving closer towards construction, in Argentina our team remains focused on bringing the Caucharí-Olaroz lithium brine project online in the next twelve months as the largest new lithium carbonate operation in over 20 years.” Now that you know this, will LAC be on your list of lithium stocks to watch?
Piedmont Lithium Inc. (NASDAQ: PLL)
Piedmont Lithium Inc. is a lithium mining company. The corporation investigates and develops a variety of resource projects around the United States. The Piedmont lithium project, located in North Carolina, is owned entirely by Piedmont. It also has a property in Kings Mountain, North Carolina, which it owns.
Piedmont reported in August that it has pushed back the delivery of lithium compounds to Tesla Inc. (NASDAQ: TSLA). The corporation does not yet have a firm date for when deliveries will begin. Despite the fact that this damaged PLL’s stock, it is now rising in the market. On the 11th of October, PLL stock is up nearly 7% in the market. Is PLL a possibility for your list of lithium stocks to monitor, given this?
The Future of Lithium Stocks
Lithium stocks have recently seen a significant increase in value. It might help you decide which lithium stocks to watch if you have an investment strategy. As earnings season progresses, we’ll see whether firms deliver strong results and are able to outperform the market. So, which lithium stocks will you be keeping an eye on?
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