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The Best Lithium Stocks of February 2023
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Ganfeng Lithium Group Co. Ltd. (GNENF)
Trailing 12-Month Sales
+265%
Expected 2022 EPS
+100% or more
Morningstar Financial Health Rating
C
Trailing 12-Month Sales
+265%
Expected 2022 EPS
+100% or more
Morningstar Financial Health Rating
C
Why We Picked It
Ganfeng Lithium Group is China’s largest lithium metal producer. Unlike most other competitors, Ganfeng is vertically integrated, with operations focused on extraction, processing, battery manufacturing and battery recycling.
The company has seen strong earnings per share (EPS) and sales growth over the last four quarters, jumping more than 432% and 265%, respectively. Based on the company’s earnings performance this year so far, it should top 100% year-over-year EPS growth in 2022.
Ganfeng has reported three years of growing sales and earnings—it’s the strongest company on our list when it comes to sustained growth. This year should mark four years of growth in both categories.
But Morningstar gave the company a C for its financial grade. This is the lowest grade on our list, but the company is still slightly investable. Morningstar looks at factors, such as financial leverage, balance sheet health and cash flow statements to develop its financial health grade.
The stock has been on a downtrend since mid-2021, trading about 45% below its 52-week high.
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Sociedad Química y Minera S.A (SQM)
Trailing 12-Month Sales
+178%
Expected 2022 EPS
+530%
Morningstar Financial Health Grade
B
Trailing 12-Month Sales
+178%
Expected 2022 EPS
+530%
Morningstar Financial Health Grade
B
Why We Picked It
Sociedad Química y Minera de Chile—usually referred to simply as SQM—is based in Chile. The company harvests lithium resources from some of the best deposits in South America, such as the salt flats of the Atacama Desert. Besides lithium, the company also produces iodine, potassium, industrial chemicals and nitrates for fertilizers.
Over the last year, SQM has grown sales by 177.7%, while EPS is up 519.9%. Growth rates are expected to be similar for 2022. Industry analysts are forecasting five-year annualized EPS growth of 14.7%.
SQM has a very solid track record, reporting positive annual EPS figures for more than a decade. Just be aware that the company’s quarterly results can be somewhat volatile, and they haven’t always sustained an upward trend over the long term.
Morningstar rates SQM’s financial health a B, indicating it’s a sound investment. The company pays a dividend that’s currently yielding 7.6%.
The stock is up 60% over the last year and is 15% below its 52-week high.
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Li-Cycle Holdings Corp. (LICY)
Trailing 12-Month Sales
+102%
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
C
Trailing 12-Month Sales
+102%
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
C
Why We Picked It
Li-Cycle Holdings is relatively a newcomer to the industry, after an initial public offering (IPO) in 2021. The company recycles batteries to recover lithium and other materials.
Since Li-Cycle has only a brief tenure as a public company, there is limited financial data for analysis. The company’s sales grew 102% over the prior four quarters, but EPS remains negative, with no current projections on when earnings could go positive.
Analysts expect sales to increase sevenfold in 2023 on a year-over-year basis, from $17 million to $127 million. That’s a very impressive rate of growth—however, beware as Morningstar rates the company’s financial health a C.
LICY’s share price has been trending lower since late 2021 and is currently 60% below its most recent 52-week high.
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Livent Corp. (LTHM)
Trailing 12-Month Sales
+55%
Expected 2022 EPS
+683%
Morningstar Financial Health Grade
C
Trailing 12-Month Sales
+55%
Expected 2022 EPS
+683%
Morningstar Financial Health Grade
C
Why We Picked It
Livent Corp.’s roots go back to the 1940s and the Lithium Company of America. Today, Livent has operations in Argentina, Canada and the U.S. The company mines lithium and refines it into intermediate materials used to produce batteries for EVs and handheld devices.
Livent’s sales have grown by 55% over the last 12 months, and the company is experiencing triple-digit EPS growth compared with last year. This year is likely to be the company’s strongest showing since it was spun off from FMC Corp. (FMC) in 2018.
Analysts expect 29% EPS growth next year, followed by 1% average annualized earnings growth over the next five years. The firm’s Morningstar financial health rating is a C, indicating that it doesn’t have the strongest balance sheet around.
Since 2021, LTHM has ranged between $20 and $35. It’s currently 16% off its most recent all-time high, in the upper portion of its range.
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Albemarle Corp. (ALB)
Trailing 12-Month Sales
+31%
Expected 2022 EPS
+428%
Morningstar Financial Health Grade
B
Trailing 12-Month Sales
+31%
Expected 2022 EPS
+428%
Morningstar Financial Health Grade
B
Why We Picked It
Albemarle is the biggest company on the list and the world’s largest lithium producer. Albemarle operates the only active lithium mine in the U.S., located in Silver Peak, Nevada. Lithium is ALB’s biggest line of business, accounting for just over half of the company’s revenue.
The company has grown its sales by 30.8% over the last year. EPS in 2022 is expected to be up 428.2% year over year.
Albemarle has a decade of positive earnings growth under its belt. Next year, analysts expect EPS to grow by 27.6%. Analysts expect average annualized EPS growth of 77.2% over the next five years. Morningstar gives ALB a financial health grade of B.
The stock is up 5.8% over the last year and is just 8% below its 52-week high.
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Lithium Americas (LAC)
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
B
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
B
Why We Picked It
Lithium Americas is a highly speculative play in the industry, as it currently lacks earnings, revenues or even much lithium production. That, however, could change very soon.
We include LAC on this listing as the company is currently developing the largest known lithium deposit in the U.S., at its Thacker Pass mine.
Ablemarle operates the only active lithium mine in the U.S. at the moment. There are dozens of other mines under development in the U.S. and Canada, but many are years away from production.
The Biden administration’s Inflation Reduction Act of 2022 provides valuable subsidies for EV buyers and automakers. To qualify for the subsidies, an EV’s batteries must use raw materials from North America or a country with which the U.S. has a trade agreement. That makes lithium resources being developed in the U.S. by companies like LAC and Piedmont Lithium more valuable.
These facts suggest that LAC could be a major winner in the lithium production game.
While the company has reported negative EPS and negligible for more than 10 years, analysts are projecting positive EPS of $1.01 per share in 2023 and an estimated $307 million in sales. Morningstar gives Lithium Americas a B for financial health.
While LAC is up 175% over the past five years, it’s down 18% year to date and 36% below its all-time high. The stock has ranged between $20 and $40 since late 2021.
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Piedmont Lithium (PLL)
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
B
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
B
Why We Picked It
Piedmont is a development-stage lithium miner that’s earlier in the process of developing its resources than Lithium Americas. It currently is working on U.S. lithium mining projects in North Carolina and Tennessee, as well as abroad in Canada and Ghana.
The company anticipates that lithium mining and refining operations will begin in Quebec in 2023 and Ghana in 2024, followed by Tennessee in 2025 and North Carolina in 2026. But some of these projections depend on tough local and national permitting reviews.
Currently, PLL has zero sales and has reported negative EPS for the last five years. That is likely to continue through 2022, but 2023 could be a different story. Analysts expect an EPS of $3.41 per share and an estimated $119 million in sales in 2023.
Since the start of 2021, PLL’s share price has ranged between $85 and $45. It’s down 11% over the last year and 26% off the 52-week high, near the middle of the long-term range.
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Sigma Lithium (SGML)
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
A
Trailing 12-Month Sales
No sales
Expected 2022 EPS
Negative
Morningstar Financial Health Grade
A
Why We Picked It
Sigma Lithium is pursuing environmentally sustainable lithium production, intending to reach net-zero emissions by 2024. The company’s lithium processing plant aims to use 100% renewable energy and 100% recycled water.
The company is the only stock with an A financial health grade from Morningstar. It has generated no sales and negative EPS for the last five years. That will likely continue through the end of 2022, but 2023 is looking brighter for investors: Analysts are expecting an EPS of $4.23 per share and $610 million in revenue in 2023.
That could explain why the stock is the best performer on the list over the last two years, rallying over 1,500%. The stock currently trades 15% off its high.
All analysis and data sourced from StockRover.com and Yahoo! Finance as of Nov. 7, 2022
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Methodology
The list above encompasses all of the main public companies in the lithium space. There is a very limited roster of companies active in mining, processing, and refining lithium. Others not listed are either very small, have witnessed major stock price declines, or are in major financial distress.
We analyzed a group of companies based on recent sales and earnings, expected future sales and earnings, and overall financial health.
The eight stocks are ranked in order based on one-year sales growth, although that is not necessarily an indication of future growth prospects. The top of the listing includes companies with reported revenue and earnings, while the three final stocks on the list are companies that are closing in on profitability and sales growth.
None of the stocks on our list have been able to sustain EPS and sales growth for more than five years. Lithium is a highly cyclical industry, so sales and earnings figures tend to be volatile instead of demonstrating steady growth.
Please note that the stocks above were selected by an experienced financial analyst, but they may not be right for your portfolio. Before you decide to purchase any of these stocks, do plenty of research to ensure they are aligned with your financial goals and risk tolerance.
What You Need to Know about Lithium Stocks
When choosing lithium stocks, one decision is whether you want to invest in lithium startups or more established companies.
Lithium startups are early-stage companies, still working on producing their mines and products. They might not be generating revenue. They have more risk, but their share price has more potential to grow should things work out.
More established lithium companies are already producing lithium and selling products. They have less risk and they are more likely to distribute profits to shareholders, making them useful for dividend investing. The drawback is that they don’t have as much growth potential for stock returns.
Another decision is whether you want to invest in companies focused on the production of lithium itself, like lithium mining stocks, or companies that process lithium or manufacture products, like lithium battery makers and lithium recycling stocks.
For miners, success is based on the price of lithium. For manufacturers, price and demand for lithium goods are important, but so is the quality of their products.
A well-diversified portfolio would have a mix of different types of lithium investments. If you need help putting this together, consult with a financial advisor for their advice on which lithium stocks to buy.
Why Are Lithium Stocks Down?
After many lithium stocks reached record highs in late 2021, the sector hit a bit of a roadblock in 2022 and many stocks are well off their highs.
Part of this is due to the cyclical nature of the market. After so many years of strong growth, lithium stocks were due for a correction. In late 2021, Goldman Sachs warned that overall lithium stocks prices were too high, based on market conditions. This prediction seemed spot on as prices have since fallen to Goldman’s target range.
The Federal Reserve has raised interest rates significantly, which has contributed to the overall declines in the stock market as a whole.
Should demand for EVs and other electronic goods continue to grow, it should mean good things for lithium stocks, even if they go down from time to time.
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FAQs
What is the best lithium stock to buy now? ›
- Piedmont Lithium Inc. (NASDAQ:PLL) ...
- Sigma Lithium Corporation (NASDAQ:SGML) Number of Hedge Fund Holders: 11. ...
- Microvast Holdings, Inc. (NASDAQ:MVST) ...
- Lithium Americas Corp. (NYSE:LAC) ...
- EnerSys (NYSE:ENS) ...
- Solid Power, Inc. ...
- QuantumScape Corporation (NYSE:QS)
Thus far in 2023, Chinese lithium prices have eased from the momentous highs of 2022, although they still remain historically elevated and experts are optimistic about the commodity's potential well into the future.
What is the prediction for lithium stocks? ›The global lithium market was worth $7.1 billion in 2021, and it is forecasted to be valued at $15.45 billion by 2028, at a compound annual growth rate of 11.75% over the forecast period from 2022 to 2028.
What lithium company is Tesla buying? ›Tesla is reportedly considering buying Brazil-based lithium miner Sigma Lithium, which is currently valued at $3 billion. With the rapidly rising costs of key minerals for battery production, Tesla has been considering venturing into the mining world.
What lithium mine will Tesla buy? ›At the end of 2021, Tesla inked a fresh three year lithium supply deal with top lithium producer Ganfeng Lithium (OTC Pink:GNENF,SZSE:002460). The Chinese company will provide products to Tesla for three years starting from 2022.
Who is the number one supplier of lithium? ›Leading lithium producing countries worldwide 2022
In 2022, Australia was the world leader in terms of lithium mine production, with an estimated output of 61,000 metric tons. Chile and China ranked second and third, with lithium production totaling 39,000 and 19,000 metric tons, respectively.
S&P Global Market Intelligence's Metals and Mining Research forecasts lithium chemical supply at 858,000 mt of lithium carbonate equivalent in 2023, up from the 668,000 mt forecast for 2022, while LCE demand was forecast at 856,000 mt , up from 684,000 mt in 2022.
Is Elon Musk investing in lithium? ›...
Buried Treasure.
Sodium-based batteries would drastically reduce the cost of battery technology and remove the need for costly and environmentally harmful lithium mining operations as well as other bottleneck metals like cobalt, nickel, and manganese.
How high will standard lithium stock go? ›11 analysts offering 12-month price forecasts for STANDARD LITHIUM LTD (SLI) have a share price target of $10.93. This median of share price forecast represents a 220.63% upside from the latest price of $3.41 as on 13.03. 23.
What stocks will boom in 2023? ›
- HAL+0.24 (+0.70%)
- CEGUNCH.
- ENPH+1.58 (+0.75%)
- MCKUNCH.
- NOCUNCH.
- NFLX-0.34 (-0.12%)
- SWKUNCH.
- VFC+0.21 (+0.96%)
3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for American Lithium in the last twelve months. There are currently 3 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" LI shares.
Are lithium stocks the future? ›Lithium stocks are already making moves in 2023. Here's a look at the top performers year-to-date on US, Canadian and Australian exchanges. Lithium rose to a new all-time high in November 2022. However, Chinese lithium prices are tumbling to start 2023.
Who does Toyota buy lithium from? ›Japanese conglomerates Toyota Motor Corp and Panasonic Corp have announced that their joint battery venture will buy lithium from the Rhyolite Ridge mining project of ioneer Ltd. The resource will then be employed to manufacture electric vehicle batteries in the United States.
Who is buying Lithium Americas? ›On Jan. 31, 2023, Lithium Americas announced a purchase agreement with General Motors Co. (NYSE: GM).
What company is the biggest miner of lithium? ›1. Albemarle (NYSE:ALB) Albemarle is one of the largest lithium producers in the world, with 5,000 employees and customers in 100 different countries globally. Besides lithium, Albemarle produces bromine and provides refining solutions and chemistry services for pharmaceutical firms.
What three companies could you invest into that mine for lithium? ›- Albemarle.
- Sociedad Química y Minera de Chile.
- Lithium Americas.
- Piedmont Lithium.
- Ganfeng Lithium.
- Livent.
...
Thacker Pass Lithium Mine.
| Location | |
|---|---|
| Country | United States |
| Coordinates | 41°42′30.25″N 118°03′17.12″W |
| Production | |
| Products | Lithium |
With 8 million tons, Chile has the world's largest known lithium reserves. This puts the South American country ahead of Australia (2.7 million tons), Argentina (2 million tons) and China (1 million tons). Within Europe, Portugal has smaller quantities of the valuable raw material.
What is the best lithium ETF? ›- Global X Lithium & Battery Tech ETF. ...
- Amplify Lithium & Battery Technology ETF. ...
- iShares Global Clean Energy ETF. ...
- First Trust NASDAQ Clean Edge Green Energy Index Fund. ...
- ARK Autonomous Technology & Robotics ETF.
How many years until lithium runs out? ›
FastMarkets corroborates Lowry and Global Lithium's fears, but indicates that supply would collapse by 2026.
What are the best ways to invest in lithium? ›Two of the most common ways to invest in lithium are with stocks, also known as equities, and a type of security that is known, collectively, as derivatives. Perhaps the easiest way is through the stock market. You cannot invest in lithium directly this way, since commodities don't have publicly traded shares.
How much longer will lithium last? ›Because lithium is not an infinite resource. In fact, according to Kipping, once EVs dominate the car market, there's about 70 years' worth of lithium until the identified global reserves are themselves depleted.
Is there a better battery then lithium? ›Fluoride batteries have the potential to last eight times longer than lithium batteries, but that's easier said than done. That's because fluoride is an anion, or a negatively charged ion, which is the magic behind its high energy density but is also the reason it's reactive and hard to stabilize.
What company is making the new super battery? ›Solid-state batteries are the “forever battery” technology that QuantumScape is developing. QuantumScape is basically pioneering a new class of solid-state batteries to make the world infinitely more productive.
What is the next battery technology? ›Solid-state, which could represent the next major innovation in battery technology, is likely to incorporate lithium in both the cathode and the anode. There is a market for lithium-ion substitutes, although we believe these technologies are unlikely to meaningfully disrupt demand for lithium.
What is Elon Musk biggest investment? ›| Company | Value | # of Employees |
|---|---|---|
| Tesla | $943 billion | 99,290 |
| SpaceX | $125 billion | 12,000 |
| The Boring Company | $5.7 billion | <200 |
| Neuralink | $500 million – $1 billion | <200 |
GM isn't the only auto maker looking to secure lithium supplies. Tesla (TSLA) has an agreement with Piedmont Lithium (PLL) for lithium sourced in North America. Tesla also has plans to build a lithium refining business in Texas.
Is lithium a penny stock? ›Lithium Penny Stocks is a list of lithium stocks trading on the OTCBB market. Lithium is a type of metal that is used to produce EV batteries. EV stocks are some of the hottest stocks right now, and many lithium and battery penny stocks are on the rise because of that. Find Trending Stocks Today!
What is next to lithium? ›Lithium's close chemical cousin, sodium, has been the basis for research into new batteries for years now. One half of sodium chloride, or table salt, it sits in the square below lithium on the periodic table, also in group 1, but weightier.
What is the holy grail of batteries? ›
The new type of battery I am working on — the lithium metal battery — is the “holy grail” of battery technology because it could provide the highest possible energy density, potentially double that of lithium-ion batteries. This means we could get double the mileage of an EV on a single charge.
What is the best solid state battery stocks? ›- Microvast Holdings, Inc. (NASDAQ:MVST)
- Nikola Corporation (NASDAQ:NKLA)
- Lithium Americas Corp. (NYSE:LAC)
- Solid Power, Inc. (NASDAQ:SLDP)
- FREYR Battery (NYSE:FREY)
After more than a decade of declines, volume-weighted average prices for lithium-ion battery packs across all sectors have increased to $151/kWh in 2022, a 7% rise from last year in real terms.
Will lithium be in high demand in the future? ›Annual lithium demand is projected to reach roughly 1.5 million metric tons of lithium carbonate equivalent by 2025 and over 3 million tons by 2030.
Are lithium stocks on the rise? ›In 2022 alone, lithium prices soared over +124%, and with Australia holding the lion's share of the metal's production, these ASX lithium stocks might be worth considering if you're looking to invest in the rise of the electric vehicle using lithium-ion batteries.
Where should I invest my money in 2023? ›- High Yield Savings Accounts.
- Short-Term Certificates of Deposits.
- Short-Term Government Bonds Funds.
- S&P 500 Index Funds.
- Dividend Stock Funds.
- Real Estate & REITs.
- Cryptocurrency.
- CBD Product Manufacturing in the US. 2023-2024 Revenue Growth: 28.0% ...
- 3D Printing & Rapid Prototyping Services in the US. 2023-2024 Revenue Growth: 26.2% ...
- Solar Power in the US. 2023-2024 Revenue Growth: 25.5% ...
- International Airlines in the US. ...
- Tour Operators in the US.
| S.No. | Name | CMP Rs. |
|---|---|---|
| 1. | Brightcom Group | 19.75 |
| 2. | Fineotex Chem | 225.55 |
| 3. | Likhitha Infra. | 231.75 |
| 4. | R Systems Intl. | 251.95 |
| Rank | Company | Country |
|---|---|---|
| 1 | Albemarle | U.S. |
| 2 | SQM (Sociedad Químia y Minera de Chile) | Chile |
| 3 | Tianqi Lithium | China |
| 4 | Ganfeng Lithium | China |
If you are looking for stocks with good return, Frontier Lithium Inc can be a profitable investment option. Frontier Lithium Inc quote is equal to 1.996 USD at 2023-03-04. Based on our forecasts, a long-term increase is expected, the "LITOF" stock price prognosis for 2028-02-25 is 5.831 USD.
What is the best lithium stock for 2023? ›
- The Best Lithium Stocks of March 2023.
- Ganfeng Lithium Group Co. Ltd. ( GNENF)
- Sociedad Química y Minera S.A (SQM)
- Li-Cycle Holdings Corp. ( LICY)
- Livent Corp. ( LTHM)
- Albemarle Corp. ( ALB)
- Lithium Americas (LAC)
- Piedmont Lithium (PLL)
- Amplify Lithium & Battery Technology ETF (BATT)
- Global X Lithium & Battery Tech ETF (LIT)
- Albemarle (ALB)
- Lithium Americas (LAC)
- Livent Corp. (LTHM)
- Sociedad Quimica y Minera (SQM)
- American Lithium (AMLI)
Lithium Americas is now ranked among the top 25 undervalued large cap dividend-paying stocks on the Toronto Stock Exchange (TSX). A stock is considered undervalued if it trades at a discount to its valuation – a calculation used to determine the intrinsic (true) worth of a company.
Is lithium a good investment for the future? ›Lithium prices are soaring as demand for electric vehicle batteries rises. These top-rated lithium stocks can help investors capitalize on the growth. Investors are seeking out the best lithium stocks as the rise in electric vehicle (EV) adoption fuels demand for lithium.
Will Piedmont Lithium stock go up? ›Stock Price Forecast
The 7 analysts offering 12-month price forecasts for Piedmont Lithium Inc have a median target of 108.00, with a high estimate of 150.00 and a low estimate of 85.00. The median estimate represents a +95.69% increase from the last price of 55.19.
Similarly, lithium hydroxide prices are forecast to rise from US$17,370 a tonne in 2021 to US$39,900 in 2022 and US$61,200 in 2023 before moderating to US$48,500 by 2024.
What's the next lithium? ›Sodium-ion batteries are an emerging technology with promising cost, safety, sustainability and performance advantages over commercialised lithium-ion batteries.
What is the next battery technology after lithium? ›Sodium-ion batteries also swerve sharply from lithium-ion chemistries common today. These batteries have a design similar to that of lithium-ion batteries, including a liquid electrolyte, but instead of relying on lithium, they use sodium as the main chemical ingredient.
Is Tesla buying Piedmont Lithium? ›In 2020, Tesla signed an agreement with Piedmont Lithium, a company developing a lithium project in North Carolina. The automaker agreed to buy about one-third of Piedmont's planned 160,000 tonnes of annual spodumene lithium production for at least five years.
What are the hottest lithium stocks? ›- Sigma Lithium (SGML)
- Albemarle (ALB)
- Livent (LTHM)
- Lithium Americas (LAC)
- Global X Lithium & Battery Tech ETF (LIT)
- Standard Lithium (SLI)
- Ganfeng Lithium Group (GNENF)
Is Frontier lithium a buy? ›
If you are looking for stocks with good return, Frontier Lithium Inc can be a profitable investment option. Frontier Lithium Inc quote is equal to 2.080 USD at 2023-02-04. Based on our forecasts, a long-term increase is expected, the "LITOF" stock price prognosis for 2028-01-28 is 5.804 USD.
What is the future of lithium 2023? ›Fastmarkets' research team sees 2022 lithium carbonate equivalent (LCE) demand coming in at 698,900 tonnes, with a rise to 884,400 tonnes in 2023. Meanwhile, the firm sees LCE supply rising from 679,400 tonnes in 2022 to 895,900 tonnes in 2023, creating a nominal surplus of 11,500 tonnes.
What will lithium price be in 2025? ›US$1,750 per tonne in 2023. US$950 per tonne in 2024. US$900 per tonne in 2025. Long run average of US$800 per tonne.
Is lithium supply set to triple by 2025 will it be enough? ›The future of lithium production
Based on the above demand projections, production needs to triple by 2025 and increase nearly six-fold by 2030. Although supply has been on an exponential growth trajectory, it can take anywhere from six to more than 15 years for new lithium projects to come online.