Keep your eye on these in the near future...
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Dear Fellow Investor,
We’ve been pounding the table for lithium stocks. In September, for example, we said that with lithium mines closing or being delayed, supply will begin to dry up. Then, just as we saw in 2022, lithium prices will explode higher again when demand returns. We also mentioned that lithium demand will only grow. Plus, with lithium prices this low, we’re just starting to see industry consolidation. Rio Tinto, for example, is acquiring Arcadium Lithium for $6.7 billion, making it the third largest lithium miner in the world. According to Fast Markets, “The merger of the two companies creates an environment where Rio Tinto can leverage Arcadium’s lithium expertise, particularly in the field of DLE where Arcadium has been a long-standing participant through its Salar del Hombre Muerto project in Argentina.”
Some of the top lithium stocks we mentioned included:
Company: Albemarle (SYM: ALB) As we said in September, “After gapping from about $75 to $88 on the Contemporary Amperex Technology news, Albemarle is a long-term buy and hold. For one, it’s the lithium industry’s 800 lb. gorilla, which will strongly benefit from the eventual return of demand and diminished supply. Two, while investors wait for it to recover, they can collect its yield of 1.83%.” From $88, ALB is now up to about $103 on news of leadership changes and restructuring.
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Company: Sociedad Quimica Y Minera (SYM: SQM) “With a yield of 5.5%, SQM is another one of the top lithium stocks to buy on weakness,” we added. At the time, SQM traded at $38. Today, it’s up to about $44. From here, we’d like to see it retest $50. Also, in its recent earnings release, the company’s EPS of 75 cents did miss by 25 cents. However, revenue of $1.29 billion did beat by $50 million. Plus, SQM saw record high quarterly sales volumes in lithium with 52,000 metric tons.
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ETF: Amplify Lithium & Battery Technology ETF (SYM: BATT) We also mentioned the Amplify Lithium & Battery Technology ETF. With an expense ratio of 0.59%, the BATT ETF provides exposure to global companies that develop, produce and use lithium battery technology. When we mentioned BATT, it traded at about $8.40. After hitting a high of $10.20, it is starting to pull back on healthy profit taking. Once it bottoms out again, it’ll be an opportunity again.
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