With lithium being such a hot commodity right now, it isn’t surprising that the market’s overall value was pegged at $7 billion as of the end of 2022 and is expected to blow up to around $22.6 billion by the end of the current decade. This also means that the world’s billionaires are snapping up lithium stocks to be able to enjoy substantial gains.
But which stocks have caught the eye of such blue-chip investors? Here are the ten that have made the cut.
Our Top Firms in Detail
Brazilian firm Sigma Lithium Corporation currently owns a number of properties where it practices sustainable mining methods, and – as of April 17th – has produced its first batch of Green Lithium, a sustainably-processed battery-grade lithium concentrate. Its initial production run has hit around 75% of its projected throughput capacity, and the company expected to make its first 15,000 metric ton shipment of its finished product last month. Sigma hopes to hit its full production capacity by next month.
With its focus on lithium exploration and development, Lithium Americas Corporation’s key areas of activity are in the United States and South America. Earlier this year, the company found itself receiving a decision in favor of the construction of a lithium mining facility in Nevada’s Thacker Pass, along with revised resource estimates for the said facility, as well as a financing / offtake agreement with General Motors.
Emergent firm QuantumScape Corporation comes next on our list. With its focus on advancing lithium battery technologies along with the commercialization of solid-state lithium batteries, it currently has a Hold rating with Deutsche Bank as of April 2023. What makes this company’s stock hot property among investors is its initiatives for improving key aspects of battery technology, specifically safety, charging speed, energy density, and cost efficiency.
While the other firms in the list specialize in exploration, development, advancement, and expansion, Li-Cycle Holdings Corporation is more into the recovery and recycling of spent lithium batteries. Aside from lithium, the company also deals with other metals that can be recovered from spent batteries, specifically aluminum, cobalt, copper, and graphite. In addition, it’s a great favorite of investors because it also deals in processed materials like cobalt sulfate, lithium carbonate, manganese carbonate, and nickel sulfate, all of which play integral roles in battery production.
Finally, there’s Piedmont Lithium which does exploration and development of resource initiatives in the United States. As an investment, Piedmont shares currently hold a Buy rating and its price target was increased by Roth MKM back in April from $150 to $190.