3 lithium stocks to keep your eye on this week
In the last month, a number of lithium stocks have been trending in the market. Lithium is a valuable mineral that is mined for use in lithium-ion batteries. Many of the electronics you use every day are powered by lithium-ion batteries. When it comes to creating electronic products, battery technology has become the go-to option.
In the last ten years, the market for electric vehicles has exploded. Year after year, the number of electric vehicles on the road continues to climb. This automotive revolution has given companies like Tesla Inc. a lot of traction. So, how does lithium relate to these vehicles, you might wonder? Lithium-ion batteries, for example, are widely utilized in electric vehicles, including Teslas. Lithium-ion batteries are required for the most, if not all, production electric vehicles currently on the road. As the demand for lithium-ion batteries grows, more lithium is required to meet that demand. It’s a basic supply and demand situation.
Some analysts believe the lithium market surge is over. However, it appears that there are still a number of mining stocks that are performing well in the market. There are a variety of methods for locating the best lithium stocks to follow. When investing in this area, keeping up with recent news and market developments might be beneficial. Let’s take a look at three lithium stocks that are currently performing well in the market.
Top Lithium Stocks To Watch
- American Battery Metals Corporation (OTC: ABML)
- Albemarle Corporation (NYSE: ALB)
- Lithium Americas Corp. (NYSE: LAC)
American Battery Metals Corporation (OTC: ABML)
The lithium stock American Battery Metals Corporation has recently increased in value. Battery materials are explored, mined, extracted, and recycled by this company. The corporation presently controls over 12,880 acres of land in 644 lithium mining claims across the world. The area in dispute is in Nye County, Nevada, in the Western Nevada Basin.
On September 24th, the company executed an agreement to secure more than 6000 acres of Nevada-based lithium resource claims. The company entered into an agreement to secure 305 unpatented lode mining claims covering approximately 6,100 acres of land that is administered by the Bureau of Land Management.
CEO and CTO of ABML, Ryan Melsert said, “Our in-house technology development and commercialization efforts for the domestic manufacturing of battery cathode grade lithium hydroxide directly support US federal efforts to reduce dependence on foreign sources of these critical materials that may not adhere to sufficient ethical and environmental standards for battery metals sourcing and manufacturing.” Will ABML be on your list of lithium stocks to watch?
Albemarle Corporation (NYSE: ALB)
Albemarle Corporation is a chemical company that creates, manufactures, and sells its goods. Lithium, Bromine, and Catalysts are the company’s main products. Materials for lithium batteries used in electric vehicles and electronics are among them. So how is ALB stock performing in November 2021?
On November 3rd, the company reported its third-quarter results for 2021. The company’s net sales went up 11% to $830.6 million during this period. Excluding FCS, its net sales went up 19%. The company also experienced an adjusted EBITDA increase of 1%, 14% excluding FCS. Based on this strong performance, the company has increased its guidance for the fiscal year 2021.
CEO of Albemarle, Kent Masters said, “In October, we achieved first lithium carbonate production at our new La Negra III/IV conversion facility. We are making investments to add significant conversion capacity in China, initially targeting up to 150,000 metric tons of lithium hydroxide per year which will provide high-return growth opportunities aligned with the increasing demand from our customers.” Now ALB stock is up 3.2% in the market on November 4th. With this in mind, will ALB be on your lithium stock watchlist?
Lithium Americas Corp. (NYSE: LAC)
Lithium Americas Corp. is a mineral exploration company that looks for lithium resources. It is actively involved in the Cauchari-Olaroz Project, the Thacker Pass Project, and other projects. Argentina and Nevada are the locations of these projects. This company just went up more than 9% on November 4th. Keeping this in mind, why is LAC stock going up in the market so much?
On November 1st, Lithium Americas made an offer to buy Millenial Lithium Corp. In the offer, on closing, each Millennial shareholder will receive C$4.70 per common share payable in Lithium Americas common shares and C$0.001 per common share. This represents a total consideration of about $400 million. This would make Millennial shareholders own about 9.9% of Lithium Americas.
The President and CEO of LAC, Jonathan Evans said, “As we bring Caucharí-Olaroz into production over the next year and continue to advance our Stage 2 expansion planning, the addition of this highly complementary lithium brine resource further enhances our long-term growth strategy in Argentina and leverages our technical and development expertise.” With this to note, will the company make your watchlist this week?
Top Lithium Stocks To Buy?
When looking for lithium stocks to invest in, it’s critical to make informed decisions. Frequently, investors will make impulsive decisions based on a lithium stock’s short-term gains. When it comes to stock market investing, understanding how a firm performs over time may be extremely beneficial. For the time being, which lithium stocks will you be keeping an eye on in the mining sector?
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