As the electric vehicle revolution continues to grow, lithium stocks are becoming increasingly more sought after. With over 60 percent of the world’s lithium reserves located in Australia, China, Chile and Argentina, many investors are scouring the markets to get their hands on the best lithium stocks available. But which stocks should you consider investing in for the long haul?
Let’s take a look at the top 7 lithium stocks of 2023 according to Godzilla Newz.
The first stock to consider is Albemarle Corporation (NYSE: ALB). The company is a fully integrated producer of lithium, and it is both the largest lithium producer and the world’s largest supplier of lithium products. With a market capitalization of over $9 billion, it’s one of the most significant players in the lithium industry. ALB also has a long-standing strategic partnership with Sociedad Quimica y Minerales (SQM), the world’s second-largest lithium producer.
The second stock to watch is Ganfeng Lithium (SHE: 002460). This company is based in China and is one of the world’s largest and fastest-growing lithium producers. In 2020, Ganfeng Lithium enjoyed a 61.6 percent revenue growth, thanks largely to its ‘Global Lithium End-to-end’ strategy. This company’s stock is volatile but could prove to be a highly lucrative stock over the next few years.
The third stock on this list is the SQM, the world’s second-largest lithium producer. SQM is also a major producer of high-purity lithium compounds and unique specialty chemicals, and recently merged with two other lithium producers, Lithium Americas and Li3 Energy. This merger has allowed the company to become even more dominant in the market, as well as providing a strong base to increase future growth.
Also worth considering are Livent Corporation (NYSE: LTHM) and BHP Billiton (NYSE: BHP). Livent is a wholly-owned subsidiary of a specialty chemicals company, FMC Corporation, and is the world’s only major producer of lithium hydroxide. BHP Billiton is one of the world’s leading mining companies and has a strong presence in the lithium business.
Finally, there is Orocobre (TSX: ORL) and Galaxy Resources (ASX: GXY). Orocobre is an Australian-based company whose flagship luganville lithium project is located in Argentina. Their shares are highly volatile, as is the price of the commodity, but could be an excellent stock to look at for both short and long-term investments. Galaxy Resources is the sixth-largest lithium producer in the world, and their stock is also volatile but could be worth looking into in the coming years.
No matter which of these seven stocks you choose to invest in, you can rest assured that you are investing in a highly secure and long-term industry that is only going to continue to grow and flourish. With the right research and due diligence, investors should be able to make informed decisions and reap the rewards of investing in lithium stocks.