Will these lithium stocks make your watchlist before November?
Lithium stocks have been one of the most interesting industries to follow in 2021. While mining stocks have benefited many investors, they are also somewhat volatile at the present. The pandemic and the resulting shifting economy contributed to the increasing volatility. Not only did the global pandemic affect lithium, but it also had an impact on other mining stocks such as gold and silver.
Because of electric vehicles, lithium stocks have surged in popularity over the last decade. One of the most important components in these cars is lithium-ion batteries. As a result, as the EV industry increases, so does lithium. Because of the global chip scarcity, the pandemic harmed the electric vehicle sector. Despite the scarcity, these vehicles’ appeal continues to grow. The majority, if not all, of the world’s major automakers, have some form of electric car strategy in place. It seems difficult to go a month without hearing about some new electric vehicle with a faster or longer-range that is set to revolutionize the game.
Lithium is one of the world’s fastest-growing elements. In fact, Statista predicts that demand for the material will increase in the next five years. This is why many investors are putting their money into lithium stocks. Because of the current market volatility, day trading these mining stocks may be more difficult. Regardless, numerous lithium equities have recently experienced strong market performance. Let’s take a look at three of these companies that you should keep an eye on right now.
Top Lithium Stocks To Watch
- Piedmont Lithium Inc. (NYSE: PLL)
- Albemarle Corporation (NYSE: ALB)
- Livent Corporation (NYSE: LTHM)
Piedmont Lithium Inc. (NYSE: PLL)
Piedmont Lithium Inc. is a firm based in North Carolina that investigates and develops various resource projects across the country. The company owns a 100 percent stake in the Piedmont lithium project in North Carolina, which spans over 2,126 acres. It also has a 61-acre tract in Kings Mountain, North Carolina, that it uses for similar exploration.
The organization provided an update on its accomplishments and future development goals in August. The company’s President and CEO Keith D. Phillips said, “Piedmont is positioned to become a leading producer of lithium hydroxide while positively impacting the communities in which we operate by creating jobs, attracting other EV supply chain participants, increasing the tax base, and broadly supporting other local small businesses. Through direct investment and contracted offtake, we control a significant quantity of potential spodumene concentrate production in three critical locations.” With this new info to note, will PLL be on your list of mining stocks to watch?
Albemarle Corporation (NYSE: ALB)
Ablemarle Corporation is a chemical corporation that creates, manufactures, and sells a variety of goods. Albemarle specializes on the sale of lithium, bromine, and catalysts. Materials for lithium batteries for use in electric vehicles and electronics are included in its sales.
The business stated on September 30th that its subsidiary Albemarle Lithium UK Limited has acquired all of Guangxi Tianyuan New Energy Materials Co. Ltd’s outstanding equity. The company that was purchased is a lithium converter based in China. For almost $200 million, Albemarle will purchase all of Tianyuan’s outstanding equity from its shareholders. This deal is expected to finalize in the first half of 2022.
CEO of Albemarle 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.” ALB stock price is performing well in the last month. Noting this, will ALB be on your lithium stock watchlist?
Livent Corporation (NYSE: LTHM)
Livent Corporation is a lithium penny stock that we’ve previously discussed on this website. This is a lithium battery manufacturing and distribution company. Polymer and chemical synthesis applications are also sold by the corporation. It has operations in North America, Latin America, Europe, the Middle East, Africa, and Asia.
The company released its second-quarter results for 2021 in August. The company’s revenue increased by 11% from the previous quarter to $102.2 million. This figure was also 57 percent greater than the previous year. Its adjusted EBITDA increased by 44 percent quarter over quarter and by 150 percent year over year.
President and CEO of Livent, Paul Graves said, “Lithium market conditions remain very positive in 2021 and we see the trends continuing into 2022. Pricing conditions have significantly improved during the year and we have seen a notable improvement in lithium hydroxide and carbonate demand alongside strong global electric vehicle sales growth.” Will LTHM stock be on your watchlist right now?
What Are the Best Lithium Stocks to Invest In?
It can be difficult to choose the finest lithium stocks to invest in. That is why it is critical to keep up with the most recent market developments. For the time being, which lithium stocks will you keep an eye on in October 2021?
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