Lithium is a key component in the production of rechargeable batteries used in electric vehicles (EVs) and renewable energy storage systems. With the increasing demand for EVs and renewable energy, the demand for lithium is expected to rise significantly in the coming years. This makes lithium stocks a popular investment option for many investors. The lithium industry is composed of companies that mine, produce, and distribute lithium. As well as companies that produce lithium-ion batteries and related components.
Investing in lithium stocks requires a thorough understanding of the industry, as well as individual companies’ financials, production capabilities, and market positioning. As with any investment, there are risks associated with investing in lithium stocks, including changes in regulations, fluctuations in commodity prices, and geopolitical risks. However, the potential for significant growth and returns make lithium stocks an attractive investment option for many investors. With that being said, let’s take a closer look at three trending lithium stocks to watch in the stock market.
Lithium Stocks To Invest In [Or Avoid] Now
- Livent Corporation (NYSE: LTHM)
- Lithium Americas Corp (NYSE: LAC)
- Albemarle Corporation (NYSE: ALB)
Livent Corporation (LTHM Stock)
First up, Livent (LTHM) is a pure-play lithium producer, with operations in the US and Argentina. The company produces high-quality lithium compounds used in batteries for electric vehicles and other applications.
In April, the company announced the date it will release its first quarter 2023 financial results. In detail, the company will report its 1st quarter 2023 results on Tuesday, May 2, 2023, following the stock market close. To give a brief overview, in Q4 2022, Livent reported earnings of $0.40 per share along with revenue of $219.4 million.
Over the last month of trading, LTHM stock has rebounded by 8.55%. Meanwhile, during Thursday’s mid-morning trading session, shares of LTHM stock are trading lower on the day so far by 2.05% at $22.22 a share.
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Lithium Americas Corp (LAC Stock)
Next, Lithium Americas (LAC) is a Canadian company focused on the development of lithium projects in North and South America. The company’s flagship project is the Caucharí-Olaroz lithium project in Argentina.
At the end of last month, Lithium Americas announced its fourth quarter 2022 earnings results. Specifically, the company reported a loss of $0.19 per share. Additionally, the company announced that as of December 31, 2022, LAC had $352 million in cash and cash equivalents.
During the last month of trading, shares of LAC stock have dropped by 3.61%. While on Thursday morning, LAC stock is trading at $19.64 a share.
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Albemarle Corporation (ALB Stock)
Lastly, Albemarle (ALB) is a leading producer of lithium, with operations in multiple countries including the US, Chile, and Australia. The company also produces specialty chemicals and catalysts.
Earlier this month, Albemarle announced the date it will release its Q1 2023 financial results. Diving in, the company reported that will release its first quarter 2023 results on Wednesday, May 3, 2023. To quickly recap, in the fourth quarter of 2022, ALB reported earnings of $8.62 per share on revenue of $2.6 billion.
In the last month of trading, Albemarle stock has fallen by 6.93%. Meanwhile, during Thursday’s late-morning trading session, shares of ALB stock are trading down another 2.65% on the day so far at $198.31 per share.
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