11 Best Lithium Battery Stocks to Buy Right Now

In this article, we’ll discuss the 11 best lithium stocks to buy right now. If you want to explore similar stocks, you can also take a look at The 5 Best Lithium Battery Stocks to Buy Right Now.

Electric vehicles are becoming increasingly popular as countries look for ways to reduce their environmental impact. Although electric cars have been around for many years, they have only recently become a more viable option for consumers thanks to technological advances and lower costs. Electric vehicles offer a number of advantages over traditional gasoline-powered vehicles, including lower emissions, lower running costs and a smaller environmental footprint. The adoption of electric vehicles around the world is causing a surge in demand for lithium, a key element in electric vehicle batteries. Demand for lithium for use in electric vehicles and batteries is expected to grow more than 40-fold between 2020 and 2040, according to the International Energy Agency.

Lithium Battery Industry: An Analysis

According to an industry analysis report by Markets N Research, the global lithium-ion battery market is estimated to be worth $43.5 billion in 2021. From 2022 to 2028, the market is expected to grow at a CAGR of 22.80% to reach a valuation of $149.2. billion by the end of the forecast period. This growth is attributed to favorable trends in demand for consumer electronics worldwide, surge in demand for rechargeable batteries, increased use of electric vehicles, and government initiatives and incentives to increase sales of electric vehicles. In terms of regions, North America held the dominant share of the global lithium-ion battery market and is expected to register the highest CAGR during the forecast period, while in North America, the US held the largest market share in 2021 and is now expected to remain at the forefront until 2028.

The lithium battery market is expected to experience strong century-long growth, and lithium stocks could be an ideal way for investors to benefit from these trends. This article will examine some of the leading companies operating in the global lithium battery market, including Livent Corporation ( NYSE:LTHM ), Sociedad Quimica y Minera ( NYSE:SQM ), and Albemarle Corporation ( NYSE:ALB ). These promotions, among others, are discussed in detail below.

Lithium, rechargeable, electric, automotive

Lithium, rechargeable, electric, automotive

Photo by Kumpan Electric on Unsplash

Our methodology

To identify the 11 best lithium battery stocks to buy right now, we scoured industry analyst reports and identified the key players operating in the space. We have filtered the best companies based on their market positions and projects. Additionally, we weighted market sentiment around each stock and included stocks that had positive analyst sentiment and positive hedge fund sentiment. These stocks are ranked according to their popularity among elite hedge funds, from least to most.

The best lithium battery stocks to buy right now

11. Standard Lithium Ltd. (NYSE:SLI)

Number of hedge fund owners: 3

Standard Lithium Ltd. (NYSE:SLI) is a Canadian materials company engaged in the mining and processing of lithium. The company’s flagship project is the Lanxess project, which covers more than 150,000 acres and is located in southern Arkansas. The company’s DLE technology has the potential to reduce lithium extraction recovery times as well as reduce carbon emissions while achieving a high-purity lithium chloride solution that can be used to produce lithium for batteries. Standard Lithium Ltd. (NYSE:SLI) is among the best lithium battery stocks to buy right now.

On November 1, Standard Lithium Ltd. (NYSE:SLI) announced that the company has received notices of approval from the USPTO for its first two US patent applications for DLE technology.

At the end of 2022Q3, 3 hedge funds were long Standard Lithium Ltd. (NYSE:SLI) and held $443,000 worth of positions in the company. Of these, Millennium Management was the company’s largest shareholder and held a position worth $220,000.

10. Sigma Lithium Corporation (NASDAQ:SGML)

Number of hedge fund owners: 8

Sigma Lithium Corporation (NASDAQ:SGML) is a leading Canadian mining company focused on the exploration and development of lithium deposits in Brazil. The company has a strong focus on the electric vehicle (EV) market, and its products are used in a variety of EV applications, including passenger, commercial and industrial vehicles. The Company wholly owns the Grota do Cirilo, Genipapo, Santa Clara and São José properties, which consist of 27 mineral rights and cover approximately 191 square kilometers in the Araçuaí and Itinga regions of Minas Gerais, Brazil.

Sigma Lithium Corporation ( NASDAQ:SGML ) is a leading supplier of battery lithium and is one of the best lithium battery stocks to buy right now. As of Nov. 24, the stock is up 236.45% year-to-date, giving the company a $3.15 billion open market value.

At the end of 2022Q3, 8 hedge funds owned shares of Sigma Lithium Corporation (NASDAQ:SGML). The total value of these holdings was $45.5 million, compared to $23.7 million in the previous quarter from 3 positions. Hedge fund sentiment about stocks is positive. As of September 30, Potrero Capital Research is the largest investor in Sigma Lithium Corporation (NASDAQ:SGML) and owns $16.2 million in the company.

9. Piedmont Lithium Inc. (NASDAQ: PLL )

Number of hedge fund owners: 12

Piedmont Lithium Inc. (NASDAQ:PLL) is an American mining company engaged in the exploration and development of lithium deposits in the United States. The Company’s flagship project is the 100% owned Piedmont Lithium Project located in the Carolina Tin-Spodumene Belt (TSB). Piedmont Lithium Inc. (NASDAQ: PLL ) is a leading lithium producer that could capitalize on the growing electric vehicle (EV) market. The company is one of the world’s lowest-cost producers of lithium, and its products are used in a variety of industries, including electric vehicles. Piedmont Lithium Inc. (NASDAQ: PLL ) has a strong strategic position in the electric vehicle market and can benefit from the continued growth of the electric vehicle market. The deal is among the best lithium battery deals to buy right now.

Wall Street sees growth potential for Piedmont Lithium Inc. (NASDAQ: PLL). On October 27, B. Riley analyst Matthew Key rated Piedmont Lithium Inc. (NASDAQ: PLL ) with a Buy rating and raised its price target to $108 from $95.

At the end of 2022Q3, 12 hedge funds were interested in Piedmont Lithium Inc. (NASDAQ:PLL) and disclosed $34.3 million worth of company positions. That compares with 11 hedge funds in the previous quarter with holdings worth $30.3 million. Hedge fund sentiment about stocks is positive.

8. Lithium Americas Corp. (NYSE:LAC)

Number of hedge fund owners: 14

Lithium Americas Corp. (NYSE:LAC) is a Canadian mining company specializing in the global supply of lithium. The company operates in the United States and Argentina and is well positioned to benefit from the growing demand for electric vehicles. The company’s low-cost manufacturing capacity and strong position in the electric vehicle battery market give it a competitive advantage over its peers. Lithium Americas Corp. (NYSE:LAC) is one of the best lithium battery stocks to buy right now, valued at $3.28 billion as of November 24th.

On November 11, B. Riley analyst Matthew Key revised his price target on Lithium Americas Corp. (NYSE:LAC) from $41 to $39 and maintained a Buy rating on the stock. In November of this year, Evercore ISI analyst Steven Richardson covered Lithium Americas Corp. (NYSE:LAC) with “Outperform” rating and $35 price target.

At the end of Q3 2022, 14 hedge funds are bullish on Lithium Americas Corp. (NYSE:LAC) and disclosed $172.3 million worth of holdings in the company. This compares to 9 positions in the previous quarter with holdings valued at $110.8 million. Hedge fund sentiment about stocks is positive. As of September 30, Himension Capital is the largest shareholder of Lithium Americas Corp. (NYSE:LAC) and has a stake in the company worth $85.6 million.

7. Li-Cycle Holdings Corp. (NYSE: LICY)

Number of hedge fund owners: 15

Li-Cycle Holdings Corp. (NYSE: LICY) is a leading North American provider of lithium-ion battery recycling solutions. The company’s recycling process is designed to recover up to 95% of lithium, cobalt and other battery metals. Li-Cycle Holding Corp. (NYSE: LICY ) is well positioned to capitalize on growing demand for lithium-ion battery recycling solutions. The company’s technology is proven and its processing plant is up and running. With the increasing adoption of electric vehicles and other battery-powered consumer electronics, the demand for lithium-ion battery recycling solutions is expected to grow significantly in the coming years. The stock is among the best lithium battery stocks to buy right now.

Li-Cycle Holdings Corp. (NYSE: LICY ) on Wall Street is optimizing. On September 19, Piper Sandler analyst Alexander Potter began coverage of Li-Cycle Holdings Corp. (NYSE: LICY ) with an Overweight rating and a $10 price target. This September, Citi analyst PJ Juvekar upgraded his price target on Li-Cycle Holdings Corp. (NYSE: LICY ) from $10 to $8 and maintained a Buy rating on the stock.

At the end of Q3 2022, 15 hedge funds were long Li-Cycle Holdings Corp. (NYSE:LICY) and held $95.75 million worth of stake in the company. Of these, Covalis Capital was the lead investor, holding a $61.8 million position in the company.

6. EnerSys (NYSE:ENS)

Number of hedge fund owners: 18

EnerSys (NYSE:ENS) is a global leader in energy storage solutions for industrial applications. The company has more than 20 years of experience in the development, production and distribution of batteries, chargers and related equipment. The company’s batteries are used in commercial electric vehicles such as electric forklifts, and it is among the world’s largest manufacturers of industrial batteries and chargers. In addition to industrial vehicles, the company’s batteries are used in a variety of applications, including medical devices and consumer electronics. EnerSys (NYSE:ENS) is among the best lithium battery stocks to buy right now.

EnerSys (NYSE:ENS) announced earnings for the second quarter of fiscal 2023 on Nov. 9. The company reported $1.11 EPS, beating the consensus estimate of $0.03. The company had revenue of $899.40 million for the quarter, an increase of 13.65% year-over-year and topping Wall Street’s estimates of $11.92 million.

At the end of 2022Q3, 18 hedge funds disclosed $251.2M worth of EnerSys (NYSE:ENS) holdings. That compares to 20 positions in the previous quarter, with holdings worth $222.8 million. As of September 30, Scopia Capital is the largest shareholder of EnerSys (NYSE:ENS) and owns $86.6 million worth of shares in the company.

Click to continue reading to see the 5 best lithium battery deals to buy right now.

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Disclosure: None. 11 Best Lithium Battery Stocks to Buy Right Now originally published on Insider Monkey.

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