Lithium stocks have been on the rise in popularity among stock market investors in recent years. This is largely thanks to the growing demand for lithium batteries. Lithium is a key component in Lithium-ion batteries, which are used in everything from electric cars to portable electronics. As the world moves away from fossil fuels and towards renewable energy, the demand for Lithium batteries is expected to continue to grow.
With that, lithium stocks offer investors a way to profit from this growing industry. However, investing in Lithium stocks comes with its own risks. The price of Lithium is highly volatile, and lithium stocks can be subject to sudden and dramatic swings. Before investing in lithium stocks, it’s important to do your research and understand the risks involved. Considering all of this, let’s take a look at three top lithium stocks to check out in the stock market now.
Lithium Stocks To Buy [Or Sell] Now
- Standard Lithium Ltd. (NYSEAMERICAN: SLI)
- Albemarle Corporation (NYSE: ALB)
- Livent Corporation (NYSE: LTHM)
1. Standard Lithium Ltd. (SLI Stock)
Starting us off today, Standard Lithium Ltd. (SLI) is a Canadian-based chemical company. For starters, the company is focused on the development of lithium extraction technology and applications for the battery industry. Standard Lithium is progressing rapidly with its flagship project in Arkansas, USA, where it has secured exclusive rights to more than 150,000 acres of brine resources.
SLI Recent Stock News
Just earlier this month, Standard Lithium announced an update on its first commercial lithium plant in Arkansas. In detail, the company awarded its FEED and DFS Study for its commercial lithium plant to Optimized Process Designs or OPD. Specifically, OPD operates under Koch Engineered Solutions.
Furthermore, Dr. Andy Robinson, President, and COO of Standard Lithium stated, “The award of this FEED study marks a significant milestone for Standard Lithium as it moves the Company and all our project partners closer to commercialization. Our internal project team went through a rigorous competitive selection process, and we are delighted to work with OPD and its partners in KES and M3 Engineering to design our first commercial facility and move towards an EPC contract and then to construction. The selection process and study award are further examples of Standard Lithium’s commitment to disciplined and responsible project development.
SLI Stock Chart
Since the start of 2022, Standard Lithium has seen its stock price drop by over 48% as of Wednesday morning’s trading session at $4.80 per share. Meanwhile, shares of SLI stock are trading 62% from their 52-week high of $12.92 per share. With the momentum surrounding the lithium industry, could now be a good time to invest in SLI stock for a buy-and-hold opportunity?
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2. Albemarle Corporation (ALB Stock)
Following that, Albemarle Corporation (ALB) is a company that engages in the development, manufacture, and marketing of specialty chemicals across the globe. The company’s principal products include lithium, bromine, catalysts, and surface treatment chemicals. For a sense of scale, Albemarle is one of the world’s largest producers of lithium.
ALB Recent Stock News
Last month, the company reported stronger-than-expected second-quarter 2022 financial results. In the report, Albemarle Corporation posted earnings of $3.45 per share, along with revenue of $1.5 billion. This is versus analysts’ consensus estimates for the quarter which were earnings per share of $3.03 on revenue of $1.3 billion. Moreover, ALB reported a 91.2% increase in revenue compared to the same period, in 2021.
Additionally, the company announced in the same report that has revised its full-year 2022 forecast. Specifically, Albemarle commented that it now estimates full-year 2022 earnings per share of $19.25 to $22.55 and revenue of $7.10 billion to $7.50 billion. This updated forecast is higher than the company’s previously reported, which were earnings of $12.30 to $15.00 per share and revenue of $5.80 billion to $6.20 billion.
ALB Stock Chart
Year-to-date ALB stock is up 20.95% as of Wednesday morning’s trading session at $285.97 per share. As a result, Albemarle has outperformed the broader markets so far this year. Considering this, will you be keeping ALB stock on your list of lithium stocks to watch in the stock market today?
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3. Livent Corporation (LTHM Stock)
Lastly, Livent Corporation (LTHM) is a chemical company that produces and sells lithium compounds. In brief, the company’s products are used in a variety of applications, including batteries, ceramics, glass, and pharmaceuticals. What’s more, Livent is one of the world’s largest producers of lithium compounds. As well as one of the leading suppliers of lithium to the battery industry.
LTHM Recent Stock News
Also last month, Livent reported a beat for its 2nd quarter 2022 financial results. Diving in, Livent reported second-quarter earnings of $0.37, along with revenue of $218.7 million. For context, Wall Street’s estimates for the quarter were earnings of $0.30 per share and revenue of $209.3 million. Next, Livent’s revenue figures for Q2 2022 represent an increase of 52% and 114% compared to Q1 2022, and the same period, in 2021, respectively. posted revenue of $218.7 million, reflecting an increase of 52% and 114% from the first quarter of 2022 and the prior year, respectively.
Aside from that, the company also recently announced it entered into a long-term supply agreement with automotive giant General Motors (NYSE: GM). In the six-year agreement, Livent will deliver lithium hydroxide to GM. This deal is projected to start in 2025.
Paul Graves, president, and CEO of Livent commented, “Lithium demand was exceptionally strong through the first half of 2022. Published lithium prices in all forms moved higher in the second quarter amid tight market conditions. We continue to achieve higher realized prices across our entire product portfolio.”
LTHM Stock Chart
Shares of LTHM stock have increased over 33% so far in 2022. With that, as of Wednesday morning, Livent Corp stock is trading at $34.17 per share. All in all, do you think LTHM stock would be a good addition to your long-term portfolio right now?
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