In 2021, lithium stocks have had their fair share of ups and downs. There are a few reasons that this sector has taken off in popularity in the last few years. Electric vehicles are a huge growing market in the automotive scene right now. Many think EVs are the future of the automobile. Every single year without failure electric vehicle sales are dramatically increasing in the market.
Lithium plays a very important role with electric vehicles. At the moment, most electric vehicles are using lithium ion batteries in their cars. This means that as the demand for lithium has increased with the popularity of electric vehicles over time. There are many lithium stocks that have risen to popularity as a result of the electric vehicle growth. Some lithium stocks have even gone up as much as three times their stock price one year ago.
Lithium stocks are still in a volatile position despite all of the good things that are helping them. It may seem far out of reach, but if a different battery technology is discovered to be more efficient, it could replace lithium. Some companies are testing other types of batteries in EVs. For now though, lithium-ion batteries are the main battery used in these vehicles. As our world becomes more tech based and digital it only helps lithium further its reign in the market. Some may think that the hype is over for lithium stocks when they are trending downwards. But some lithium stocks are often making multiple percentage gains throughout various weeks. Keeping all of this in mind, let’s look at three lithium stocks that have been showing high market performance at certain points.Top Lithium Stocks To Watch
- Lithium Americas Corp. (NYSE: LAC)
- Albemarle Corporation (NYSE: ALB)
- Piedmont Lithium Inc. (NASDAQ: PLL)
Lithium Americas Corp. is a lithium stock that explores for mineral deposits. The company currently holds interest in the Cauchari-Olaroz Project, Thacker Pass project, and more. These projects are located in Argentina and Nevada. This is another lithium corporation that experienced a lot of positive momentum in the last year.
On June 10th the latest update was released from the lithium company. It announced two new directors and confirmed the election of board of directors. The Chairman of the Board at Lithium Americas, George Ireland said, “We are pleased to welcome Kelvin and Jinhee to our Board. Their knowledge and experience will be an excellent complement to the Board as we begin the transition from developer to operator.”’
On May 28th Lithium Americas and Ganfeng Lithium started expansion planning at Cauchari-Olaroz. Ireland added, “Caucharí-Olaroz is on track to become the largest new lithium brine operation in over 20 years. With construction for Stage 1 expected to be complete within the next year, together with Ganfeng Lithium, we are beginning to plan our next phase of growth in Argentina.” Will you add LAC stock to your list of lithium companies to watch this month?Albemarle Corporation (NYSE: ALB)
Albemarle Corporation is a lithium stock that develops, manufactures, and markets engineered specialty chemicals. It operated in three different segments, being Lithium, Bromine Specialties, and Catalysts. Its Lithium section offers lithium compounds like lithium carbonate, lithium, hydroxide, and more. This is used for batteries in electric vehicles among a variety of other things. Its cesium products are used in pharmaceutical and chemical industries. Its bromine solutions are given for fire safety, chemical synthesis, water purification, beef and poultry processing and more.
On June 1st the company completed the sale of its Fine Chemistry Services business to W.R. Grace & Co. The sale took place for a total $570 million, consisting of $300 million cash and a preferred equity of a subsidiary worth $270 million. The CEO of Albemarle Kent Masters said, “The sale of our Fine Chemistry Services business has enabled us to unlock substantial value from our portfolio of quality assets. With the proceeds from this transaction, we have enhanced our available resources to execute our long-term growth strategy.”
Just one day after this the company reported its sustainability strategy and targets. Masters also said, “Our 2020 report illustrates the progress we made with our sustainability initiatives and incorporates our new targets, which are aimed at reducing energy and water use. Our new climate strategy also outlines how we intend to work with our key stakeholders and actively pursue operational efficiencies to help create a safer and more sustainable world.” With all of these positive advancements, will you add ALB to your lithium stock watchlist?Piedmont Lithium Inc. (NASDAQ: PLL)
Piedmont Lithium Inc. is an exploration focused lithium stock. The company will explore and develop various resource projects all over the United States. Piedmont has 100% interest in the Piedmont lithium project located in North Carolina. It also owns another property in Kings Mountain, North Carolina.
On June 8th Piedmont released its sustainability report. The company stated that it focused on increased sustainability with a 40% increase in quartz, feldspar, and mica mineral resources. President and CEO Keith D. Phillips said, “Piedmont continues to find increased value in our industrial mineral products quartz, feldspar, and mica. Our location in close proximity to potential customers helps advance our goal of becoming one of the world’s most sustainable lithium manufacturing businesses. Placing more of our valuable resources into the market creates circular economy opportunities through waste reduction while providing substantial credits towards our cost of lithium hydroxide production.” Will PLL stock make your lithium stock list this week?The Future of Lithium Stocks
Analysts believe that lithium stocks will grow with electric vehicles. Often when news is released in the EV sector, lithium stocks will perform in a similar direction to electric vehicle stocks. So as economic recovery takes place and the automotive market booms, it will be interesting to see what the performance of lithium stocks looks like for the rest of 2021.