Battery manufacturers use lithium as their primary ingredient. Green energy sources have grown in importance in recent years. Lithium is not a new material used in portable electronic devices. Also, lithium is used to develop electric vehicle batteries, whose production has increased substantially since its introduction. For investors, this creates an interesting investment opportunity.
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Lithium is becoming increasingly popular among investors. By 2030, Obama wants 80% of America’s electricity to come from renewable sources. The best lithium stocks will benefit as a result of the growth of lithium mines and production firms.
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Almost all battery-powered energy solutions use lithium compounds. Currently, the U.S. Geological Survey estimates that over 70% of lithium produced worldwide is used for battery manufacturing. Listed below are the three best lithium stocks to invest in.
Piedmont Lithium Inc. (NASDAQ: PLL) is 100.68% higher on its value in year-to-date trading and has touched a low of $25.36 and a high of $88.97 in the current 52-week trading range. The PLL stock was last observed hovering at around $53.28 in the last trading session, with the day’s gain setting it 4.14% off its average median price target of $87.00 for the next 12 months.
DA Davidson rated the Piedmont Lithium Inc. (NASDAQ: PLL) stock “a Buy”. DA Davidson’s estimates were contained in a research note released on Friday, July 23, 2021. Several other experts on Wall Street have posted such reports regarding the PLL shares. According to Clarksons Platou, the stock is “a Buy,”$86. Clarksons Platou published their figures in a research note released to investors on Wednesday, May 05, 2021. Other experts at JP Morgan have the stock’s price target at $86 price; with their rating of the stock is “an Overweight.”. These scores were published in a research note the firm released on Tuesday, May 04, 2021.
Lithium Americas Corp. (LAC) started the day trading at $29.24 and recorded an intraday high of $29.275. It also recorded an intraday low of $27.99 during Tuesday’s trading session. Lithium Americas Corp. is a very active stock that recorded a trading volume that is more than 42.47% of the average daily trading volume on Tuesday. The stock’s trading volume on Tuesday was 2.72 million, which is more than 42.47% of the total average daily trading volume of 2.72 million.
Multiple groups of Wall Street analysts have recently been drawn to the lac stock, with those at Deutsche Bank Downgrade the stock to “a Hold”. The analysts released their assessment via a research note they published on November 16, 2021. Over at Piper Sandler, the analysts restated the earlier stance about Lithium Americas Corp. shares, rating the shares “a Neutral.” in a note released October 01, 2021.
Albemarle Corporation (NYSE: ALB) started the day on 12/21/21, with a price increase of 2.76% at $224.15. During the day, the stock rose to $225.00 and sunk to $219.77 before settling in for the price of $224.15 at the close. Taking a more long-term approach, ALB posted a 52-week range of $133.82-$291.48.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 15, 2021, when Goldman Downgrade the stock to “a Sell” and issued a price target of between $199 and $205. RBC Capital Mkts Upgrade its price target at 246-280.