#5 - Albemarle (NYSE:ALB)
Leading global lithium miner Albemarle Corporation (NYSE: ALB) is another cyclical stock to consider. As many investors are aware, lithium is the key component in the lithium-ion batteries that are essential to many of the electronics we use every day, particularly for electric vehicles (EVs).
Supply-demand dynamics with EVs in the United States, in particular, is part of the reason behind the 41% year-to-date drop in ALB stock. Lithium prices are down with the market being amply supplied.
But if you’re looking at lithium as a long-term play, this could be a time to pick up shares of ALB stock, which is trading near five-year lows. Analysts believe Albemarle earnings could grow 154% in the next 12 months, which could lead to a 58% increase in the ALB stock price.
Albemarle has been increasing its dividend for 30 consecutive years. The current dividend yield is 1.96%.
About Albemarle
Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals worldwide. It operates through three segments: Energy Storage, Specialties and Ketjen. The Energy Storage segment offers lithium compounds, including lithium carbonate, lithium hydroxide, and lithium chloride; technical services for the handling and use of reactive lithium products; and lithium-containing by-products recycling services.
Read More - Current Price
- $108.36
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 15 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $114.47 (5.6% Upside)
