Shares of Albemarle Corporation (NYSE:ALB) traded at a new 52-week high today of $302.54. So far today approximately 442,000 shares have been exchanged, as compared to an average 30-day volume of 1.4 million shares.
Albemarle is the world’s largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.
Albemarle Corporation (NYSE:ALB) is currently priced 57.2% above its average consensus analyst price target of $127.94.
Albemarle Corporation share prices have moved between a 52-week high of $302.54 and a 52-week low of $169.93 and are now trading 76% above that low price at $299.04 per share.
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