The demand for lithium stocks has been increasing since the start of 2021, as this light, soft, silvery-white metal is of great importance for producing both consumer and industrial goods. From automotive parts to energy storage solutions and consumer electronics, lithium is used everywhere. The market has seen a lot of ups and downs, but predictions suggest that the trend will continue into 2023, as more companies use lithium-based products. Here is a list of the top 7 lithium stocks of 2023.
1. Albemarle Corp. (NYSE: ALB): It is a leading global supplier of lithium with a market cap of over $20 billion. Albemarle’s Lithium division operates in three divisions: Lithium & Advanced Materials, Lithium Hydroxide, and Lithium Brine. All divisions focus on the production and sale of lithium-based products. They also partner with Tesla to manufacture Lithium-ion batteries for electric vehicles.
2. FMC Corporation (NYSE: FMC): It is one of the world’s leading lithium miners, with a market cap of over $10 billion. FMC produces lithium-based products for industrial, technological, and creative applications. The company has recently partnered with Toyota to produce Lithium-ion batteries for electric cars.
3. Orocobre (ASX: ORE): It is one of the world’s largest producers of Lithium, with a market cap of $2.5 billion. Orocobre’s production is mainly focused on brine lithium hydroxide and lithium carbonate, which is used in the production of pharmaceuticals and energy storage solutions. Orocobre is also a partner of Panasonic, supplying them with high-grade lithium ore for their automotive products.
4. SQM (NYSE: SQM): It is one of the world’s biggest producers of lithium, with a market cap of $9 billion. SQM produces lithium-based products for both industrial and consumer applications. The company’s main focus is lithium hydroxide and lithium carbonate, for which it supplies most big automakers.
5. Livent Corporation (NYSE: LTHM): Formerly known as FMC Lithium, the corporation has a market cap of $2 billion. The company manufactures lithium hydroxide and lithium carbonate used in pharmaceutical and energy storage applications. Livent has recently partnered with Hyundai to produce electric car batteries.
6. Ganfeng Lithium (SZSE: 002460): It is one of China’s largest producers of lithium, with a market cap of $4 billion. The company’s main focus is lithium hydroxide, lithium-metal battery materials, and lithium oxide. Recently, the company has been partnering with Apple to design and manufacture lithium-ion batteries.
7. Piedmont Lithium (NASDAQ: PLL): It is an Australian-based company with a market cap of $2.5 billion. Piedmont Lithium is a key supplier of lithium hydroxide and lithium carbonate used in the production of nanomaterials and consumer electronics. The company has recently announced a partnership with Samsung to produce lithium-ion batteries for electric vehicles.
This list of the top stocks of 2023 is a great way to know the companies and explore their future potential. As technologies develop and lithium-based products become more commonplace, the demand is expected to keep on increasing. Investors should consider exploring this list to know the various opportunities and to optimize their portfolios for maximum growth.
