5 Best Lithium Stocks for 2023
Lithium is a rare element that is crucial to the production of electric vehicles so investors are looking for ways to profit from the ongoing boom in lithium prices.
Top Lithium Stocks
- Ablemarle (NYSE: ALB)
- Piedmont (NASDAQ: PLL)
- Livent (NYSE: LTHM)
- Sociedad Quimica y Minera de Chile
Ablemarle is one of the world’s largest lithium producers with a market cap of $33 billion. The company is a global specialty chemicals company with leading positions in lithium, bromine and refining catalysts.
Ablemarle mines lithium in Chile, Australia, and China plus the company is planning to expand its operations to North Carolina, USA this year.
ALB pays a 0.55% dividend yield and the company has increased its dividend for 27 straight years.
Livent is a Lithium producer that sells Lithium carbonate to major EV automakers such as Tesla and General Motors.
My Bullish Outlook on Lithium Stocks
Tesla CEO Elon Musk, leader of the largest EV company in the world, tweeted that Lithium prices have gone to insane levels, which is why I decided to dig deeper into this industry and find out what’s exactly going on.
In Musk’s tweet, he mentioned that Lithium is abundant everywhere on Earth but the extraction process is long and slow. Thus, Lithium prices have skyrocketed over the last 2 years as new EV companies buy up the element as a crucial part of their battery makeup.
In my EV stocks article, I talked in-depth about how global EV production will increase a lot over the next several years so it makes sense that Lithium prices will possess a strong correlation to EV production. Thus, savvy investors will take a keen interest in the best lithium stocks to own as the EV revolution charges forward.
Top Lithium Stocks
Albemarle is the world’s leading lithium producer based out of North Carolina with mines in Chile and Australia.