4 Top Lithium Stocks To Watch Today
With the stock market today seemingly extending its losses from last week, investors may want to look at lithium stocks. For one thing, demand for this upcoming metal in the raw materials market continues to surge now. Despite it being among the lightest of all metals, lithium plays a crucial role in the automotive industry today. Namely, this is thanks to its role as a key component in electric vehicle (EV) batteries. By extension, all this would see lithium stocks potentially being pick-and-shovel plays on the EV industry. After considering all this, it is no wonder that investors are eyeing the top lithium providers on the market now.
Even now, analysts are already forecasting further increases in demand for the metal. Evidently, we could refer to Vance Brown, portfolio manager at Williams Jones Wealth Management, on this matter. According to Brown lithium is a “vital, essential element” that is part of “a new industrial revolution.” Also, industry players such as Standard Lithium (NYSE: SLI) and Samsung’s (OTCMKTS: SSNLF) SDI unit continue to push forward. On one hand, SLI’s flagship Arkansas project successfully yielded “first-of-its-kind start-to-finish DLE to battery quality lithium carbonate in a single integrated process.” On the other hand, Samsung SDI launched PRiMX last month, its latest commercial-use battery brand.
Across the board, there is no shortage of excitement in the lithium world today. Pair this with EVs growing in popularity across major markets worldwide and the growth story for lithium stocks makes sense. As such, could one of these firms be top picks in the stock market now?
Top Lithium Stocks To Buy [Or Sell] This Week
- Lithium Americas Corporation (NYSE: LAC)
- Piedmont Lithium (NASDAQ: PLL)
- Albemarle Corporation (NYSE: ALB)
- Sociedad Quimica y Minera (NYSE: SQM)
Lithium Americas
First up, we have Lithium Americas, a company that focuses on the development of lithium development projects. Specifically, it is advancing the Cauchari-Olaroz lithium brine project in Jujuy, Argentina, and the Thacker Pass lithium project in Nevada. The company expects these two operations to run by 2023 and is well-positioned for growth as the EV industry continues to expand. LAC stock currently trades at $23.20 a piece as of 11:30 a.m. ET.
The overall demand for lithium would be a major catalyst for Lithium Americas’ growth. By having mines in both Argentina and Nevada, the company will be able to power a variety of EV operations. For instance, its Nevada location will have future synergies with Tesla’s (NASDAQ: TSLA) Gigafactory location in Texas along with SpaceX enterprises. There could be a possibility of Lithium Americas entering into long-term agreements with both of these companies due to the demand for lithium. Given this piece of news, is LAC stock worth adding to your portfolio of lithium stocks right now?
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Piedmont Lithium
Piedmont is an emerging lithium company that focuses on the development of its Piedmont Lithium Project in North Carolina. It strives to be a strategic domestic supplier of lithium to the increasing EV and battery storage markets in the U.S. The company also continues to develop a world-class integrated lithium business, to enable a transition to a net-zero emissions world. It will also be a driving force in the creation of a clean energy economy in America. With its unique geographic proximity to resources, production operations, and prospective customers, it is poised to be a sustainable provider of lithium hydroxide. PLL stock currently trades at $41.96 as of 11:30 a.m. ET.
On January 12, 2022, the company released an economic impact study for its Carolina Lithium Project. Notably, the report states that by 2027, the direct output impact is estimated to be over $530 million. Also, it expects to have an estimated direct employment of 428 jobs and the total employment impact is estimated at 1,051 jobs. The proposed project will be undertaken by Piedmont Carolina Lithium as a single integrated facility that will include three operations. Namely, this includes quarrying, spodumene concentration, and by-product processing. It will also include the production of an estimated 30,000 tons of lithium hydroxide from spodumene concentrate on an annual basis. With that being said, is PLL stock a buy today?
Albemarle Corporation
Albemarle is a fine chemical manufacturing company that operates 3 divisions. Accordingly, they are lithium, bromine specialties, and catalysts. It powers some of the world’s largest and most critical industries, from energy to transportation and electronics. Also, it serves customers in over 90 countries. ALB stock currently trades at $201.19 as of 11:30 a.m. ET.
Albemarle remains hard at work exploring new areas of research now. In detail, the company is now actively working with 6K, an emerging name in the microwave-controlled plasma tech field. Through the current joint development agreement, Albemarle is exploring the use of 6K’s UniMelt sustainable materials production platform. Ideally, UniMelt could help in the creation of “novel lithium battery materials” according to Albemarle. On top of that, Albemarle CTO Dr. Glen Merfeld notes, “The collaboration sets a strong foundation not only for advanced material development but also for future commercialization.” Seeing as Albemarle seems to be firing on all cylinders now, would you consider investing in ALB stock?
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Sociedad Quimica y Minera
Last but not least, we have Sociedad Quimica y Minera or SQM for short. In brief, it is a global chemical company that focuses on developing and producing a massive array of products. The likes of which mainly consist of lithium, potassium nitrate, iodine, and thermo-salts. Through its industry-leading portfolio, SQM caters to the health, nutrition, renewable energy, and tech industries. By the company’s estimates, it could see lithium sales volumes adding up to around 100,000 metric tons in 2021. As the world’s largest lithium producer, SQM stock could be another name to consider among lithium stocks now.
As it stands, SQM stock currently trades at $51.21 as of 11:30 a.m. ET. To get a better understanding of SQM’s prospects, we could look at its latest quarterly figures. Back in November, the company saw green across the board in its third-quarter report. Notably, it posted massive year-over-year gains of over 46% in revenue, and 6,130% in net income. Not to mention, SQM was also recently awarded a lithium development contract from the Chilean government earlier this month. With the sheer scale and momentum in SQM’s operations now, could SQM stock be a top lithium stock for you?
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