Lithium is a soft, white metal that is part of the alkali metal group. In fact, lithium is used in a variety of industries, including automotive, aerospace, and military. Also, lithium batteries are used in cell phones, laptops, and other electronic devices. Lithium-ion batteries are also used in electric cars and other electric vehicles.
Lithium stocks are a type of investment that refers to the shares of companies that mine, produce, or otherwise deal with lithium. Lithium stocks have been on the rise in recent years as the metal has become increasingly popular for a variety of uses. However, lithium stocks are not without risk.
The price of lithium is highly volatile and is subject to supply and demand shocks. As a result, investors in lithium stocks need to be prepared for some turbulence. Considering this, if you’re still interested in the lithium sector, here are three top lithium stocks to watch in the stock market right now.
Lithium Stocks To Watch Now
1. Albermarle Corporation (ALB Stock)
First up, Albermarle Corporation (ALB) is a chemicals company with over 3,800 employees worldwide. Albermarle operates in 50 countries and serves customers in more than 100 nations. The company’s product portfolio includes bromine and iodine, catalysts, lithium, and other chemicals used in a variety of industries such as energy storage, transportation, electronics, healthcare, and construction.
ALB Recent Stock News
Earlier this month, Albermarle announced it will be releasing its third-quarter 2022 financial results on Wednesday, November 2, 2022. The company said it will announce after the close of the U.S. markets. Meanwhile, in the previous quarter, the company reported a beat for its Q2 financial results. In detail, the company reported 2nd quarter 2022 earnings of $3.45 per share and revenue of $1.5 billion.
ALB Stock Chart
Year-to-date shares of ALB stock are still outperforming the broader markets up 3.91% so far in 2022. Meanwhile, during Friday’s late morning trading session, Albermarle stock is trading down 3.94% at $245.92 a share.
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2. FMC Corporation (FMC Stock)
FMC Corporation is a diversified chemical company serving agricultural, industrial, and consumer markets globally for more than a century. The company operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. With that, its FMC Lithium segment focuses on producing lithium for EVs, grid energy storage systems (ESS), portable electronics, aerospace, military applications, metal alloys, glass ceramics, and other industrial uses.
FMC Recent Stock News
Just last month, FMC Corporation reported that it will be releasing its third-quarter 2022 earnings results on Tuesday, November 1, 2022. The company said it will announce Q3 2022 results after the close of the U.S. stock market. In the company’s second-quarter earnings release, it said it estimated third-quarter 2022 earnings of $1.00 to $1.20 per share and Q3 2022 revenue of $1.31 billion to $1.39 billion.
FMC Stock Chart
Continuing on, so far this year shares of FMC Corporation stock are outperforming the broader markets advancing 2.27% year-to-date. Though, during Friday morning’s trading session, FMC stock is down 3.32% at $112.63 a share.
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3. EnerSys (ENS Stock)
Lastly, EnerSys (ENS) provides stored energy solutions for industrial applications. Also, the company manufactures and distributes energy systems solutions and motive power batteries, specialty batteries, battery chargers, power equipment, battery accessories, and outdoor equipment enclosure solutions to customers worldwide.
ENS Recent Stock News
In August, EnerSys announced that its Board of Directors have declared a quarterly cash dividend of $0.175 per share on common stock. This results in an annual dividend yield of 1.17%. Separate from that, the company also reported its first quarter 2023 financial results in August.
Diving in, ENS reported Q1 2023 earnings of $1.15 per share, with revenue of $899 million. In addition, the company reported revenue growth of 10.3% during the same period, a year prior. EnerySys’s President and CEO David Shaffer said this in the company’s release to shareholders, “EnerSys had a solid first quarter of fiscal 2023, with revenue of $899 million up 10% year-over-year, the second highest quarterly revenue and volume in our history, even after absorbing ~$30 million of FX headwinds. Demand remained robust across all segments with a third consecutive quarter of over $1 billion of orders (a record for Q1) growing backlog to $1.5 billion.“
ENS Stock Chart
As of Friday morning shares of ENS stock are down 1.89% at $59.85 a share. Year-to-date ENS stock has dropped over 26%. Could now be a good time to be adding ENS stock to your watchlist at these price levels?
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