Surging raw material prices could be a boon for this lithium company…
According to the Benchmark Mineral Intelligence – a lithium price index – lithium prices have surged by 39.2% over the past 30 days.
Even more, lithium prices have skyrocketed by 441% on a year-over-year basis, marking the index’s highest price gain in more than five years.
Expectations that demand will eventually outweigh supply in the years ahead are helping to fuel the increase. This is not only due to the Russia-Ukraine crisis, but also ongoing supply-chain troubles.
And with companies such as Tesla (TSLA), General Motors (GM), Stellantis (STLA), and Ford Motor (F) all ramping up electric-vehicle production, demand for lithium-ion batteries is anticipated to surge even higher.
This means investments in the space are only going to accelerate in the years ahead.
And as this happens, a number of new battery technologies – reliant on lithium – will enter the market… potentially benefiting one of the best lithium stocks around.
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Albemarle
Albemarle (ALB) is the largest lithium miner in the world – with operations in Chile, North America, and Australia. It’s also the biggest provider for the EV battery market.
This has enabled ALB to grow its share value by 44.7% over the past year. It has also helped its stock price surge by 106% in the most recent five-year period.
And these gains are far from slowing down…
In its fourth quarter, the company reported earnings per share of $1.01 compared with the estimated $1.00. ALB’s revenue was $894.2 million.
The company said for full-year 2022, its EPS could be between $5.65 and $6.5 versus Wall Street’s estimated $6.20. The lithium miner added that its revenue could be $4.2 billion to $4.5 billion, above the consensus of $4.02 billion.
And with continued excitement surrounding Tesla – as well as major EV investments from legacy manufacturers – UBS forecasts the lithium market will surge by 8 times over the next decade.
Given ALB’s strong position in the space, its consistent financials, and solid outlook, the firm should continue to benefit from the impending lithium boom.
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