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Dear Fellow Investor,
Investors should pay close attention to lithium stocks, we said on September 13.
At the time, we added that, “Exxon has also said the world urgently needs significantly more lithium than its producing. Two, 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. Three, China’s Contemporary Amperex Technology could soon suspend some lithium mining and production operations.”
Company: Albemarle (SYM: ALB)
With that, we highlighted opportunity in Albemarle (SYM: ALB), which would run from about $88 to its current price of $93.66. From here, if ALB can break above current resistance, it could retest $100 short term. Even better, as the lithium giant recovers, investors can collect its current yield of 1.72%. It’s next dividend payment of $0.405 will be paid October 1 to shareholders of record as of September 13.
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Company: Sociedad Quimica Y MIinera (SYM: SQM)
We also highlighted opportunity in Sociedad Quimica Y Minera (SYM: SQM), which traded at $38.40 on September 13. Now up to $40.73, we’d like to see it retest $43 near term. SQM yields about 5.15% at the moment. In addition, 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)
There was also the exchange-traded fund (ETF), Amplify Lithium & Battery Technology ETF (SYM: BATT). With an expense ratio of 0.59%, the BATT ETF provides exposure to global companies that develop, produce and use lithium battery. At the time, the ETF traded at about $8.40. Today, it’s up to $9.35.
With a good amount of fear now priced in, these are still some of the best lithium stocks to buy and hold for the long haul.
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