Your finances can benefit from these best Lithium stocks

Rechargeable batteries are manufactured using lithium as the main ingredient. The importance of renewable energy has increased in recent years. Lithium has long been used in portable devices, including smartphones and tablets. Aside from developing batteries for electric vehicles, lithium has been used to develop batteries for a number of other hot sectors, like the automobile industry. This makes the best lithium stocks one of the most interesting investment opportunities.

Investors are increasingly interested in lithium. According to US President Biden, his administration aims to produce 80% of the country’s electricity by 2030 from renewable resources. Thus, lithium production companies and mines are set to grow, which creates favorable prospects for the best lithium stocks.

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The majority of commercial batteries use lithium compounds. According to the US Geological Survey, about 70% of lithium produced worldwide is used for batteries.

Here are few best lithium stocks you might be interested in.

Albemarle Corporation (NYSE: ALB) is 54.49% higher on its value in year-to-date trading and has touched a low of $133.82 and a high of $291.48 in the current 52-week trading range. The ALB stock was last observed hovering at around $227.90 in the last trading session, with the day’s gain setting it 1.19% off its average median price target of $285.00 for the next 12 months.

Wall Street analysts track the Albemarle Corporation (NYSE: ALB) stock on daily basis. Out of 25 analysts, 12 deemed the stock a Buy, and 1 gave it a rating of OVERWEIGHT. Another 8 recommended that ALB is a HOLD, while 1 rated it UNDERWEIGHT and the 3 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 2.40.

Sociedad Quimica y Minera de Chile S.A. (SQM) started the day trading at $50.13 and recorded an intraday high of $50.84. It also recorded an intraday low of $48.51 during Thursday’s trading session. Sociedad Quimica y Minera de Chile S.A. is a very active stock that recorded a trading volume that is more than 22.36% of the average daily trading volume on Thursday. The stock’s trading volume on Thursday was 1.16 million, which is more than 22.36% of the total average daily trading volume of 1.16 million.

According to WSJ, Sociedad Quimica y Minera de Chile S.A. (NYSE: SQM) obtained an estimated Overweight proposal from the 14 brokerage firms currently keeping a deep eye on the stock performance as compared to its rivals. 2 equity research analysts rated the shares with a selling strategy, 3 gave a holding approach, 6 gave a purchase tip, 2 gave the firm overweight advice and 1 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that last year discussed the stock is $62.29.

Livent Corporation (NYSE: LTHM) started the day on 12/23/21, with a price increase of 3.09% at $24.99. During the day, the stock rose to $25.05 and sunk to $23.95 before settling in for the price of $24.99 at the close. Taking a more long-term approach, LTHM posted a 52-week range of $14.73-$33.04.

Out of a total of 17 brokerages that are currently covering Livent Corporation (LTHM) stock, the average recommendation is “Hold” according to WSJ. 1 equities research analyst has rated the stock with a “Overweight” recommendation, 4 analysts have given this stock a “Buy” recommendation, 10 analysts have recommended that investors “Hold” this stock, and 1 analyst have given this stock a “Sell” rating and 1 suggested “Underweight”. Analysts’ average 1-year price target, among all the brokerages, is $30.58.

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