#2 - Albermarle (NYSE:ALB)
Albermarle (NYSE:ALB) is not a pure play among lithium stocks. The specialty chemicals maker doesn’t mine lithium but it does play a key role in the next stage of the chain. Albemarle works with lithium salts to produce lithium compounds such as lithium carbonate, lithium hydroxide, and lithium chloride on its global production sites. Both lithium carbonate and lithium hydroxide are components of lithium-ion batteries that are currently the standard for electric vehicles.
ALB stock had a nice run to enter 2020. Like the rest of the market it sold sharply at the onset of the pandemic. But since then the gain in the stock has been spectacular. And most of that gain has come since the election.
Albermarle is not a small company. With a market cap of $17.87 billion, it’s an established, global company. The company belongs to the exclusive Dividend Aristocrat club having increased its dividend for the last 27 years.
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
- $108.98
- Consensus Rating
- Hold
- Ratings Breakdown
- 6 Buy Ratings, 15 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $114.47 (5.0% Upside)
