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The 10 Best Lithium Stocks to Buy for a Post Gasoline World

Electric vehicles currently make up about 5% of new car sales in the United States. While they have received a lot of attention in the last several years, there is still a long way to go before American roads are dominated by electric vehicles. Tesla has gotten an early lead over established automakers with their Model S, Model 3, and Cybertruck, but the market is still anyone’s game. Ford has had an impressive showing with its F-150 Lightning and Mustang Mach-E. Rivian has produced some head-turning trucks. General Motors is finally starting to gain some ground. Yet, it’s just too early to tell which automakers will dominate roadways 20 years from now.

Fortunately, there is a way to bet on the electric vehicle mega-trend without having to pick winners. There is a major component that makes up a substantial portion of the weight of every E.V. on the road—lithium-ion batteries. A typical Tesla Model S contains than 1,200 pounds of lithium-ion batteries. The F-150 lightning has 1,800 pounds of batteries. Given that electric vehicles require a substantial amount of lithium to operate, betting on companies involved in the mining and processing of lithium seems like an obvious play.

There are currently more than 200 public companies vying to dominate the lithium trade. Many of these companies are smaller producers or international firms that trade on the over-the-counter exchange, or on international exchanges such as the Australian Stock Exchange or the TSX Venture Exchange in Canada. This can make it difficult to wade through them and find the lithium companies that have the best chance to see rapid growth and future success.

Thankfully, Wall Street's brightest minds have already done the work for us. Every year, analysts issue approximately 8,000 distinct recommendations for energy production companies. Analysts don't always get their "buy" ratings right, but it's worth taking a hard look when several analysts from different brokerages and research firms are giving "strong buy" and "buy" ratings to the same lithium stock.

We've created a report that details the 10 lithium companies that Wall Street's top-rated equities research analysts are telling their clients to buy. If you’re looking to make a bit in the lithium industry anytime in the next few months, chances are the company that you should buy is on the list.

#1 - Rio Tinto Group (NYSE:RIO)

Consensus Rating
Moderate Buy
Rating Score
2.7
Ratings Breakdown
5 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
N/A

About Rio Tinto Group

Rio Tinto Group logoRio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
10/16/2024MacquarieReiterated RatingOutperform ➝ Neutral
10/2/2024Berenberg BankUpgradeHold ➝ Buy
7/31/2024Royal Bank of CanadaUpgradeHold
7/23/2024Hsbc Global ResUpgradeStrong-Buy
7/23/2024HSBCUpgradeHold ➝ Buy
6/27/2024Berenberg BankDowngradeBuy ➝ Hold
5/20/2024CitigroupDowngradeBuy ➝ Neutral
3/5/2024Liberum CapitalReiterated RatingBuy ➝ Hold
1/12/2024The Goldman Sachs GroupInitiated CoverageBuy
12/5/2023BNP ParibasUpgradeNeutral ➝ Outperform


#2 - Enovix (NASDAQ:ENVX)

Consensus Rating
Moderate Buy
Rating Score
2.9
Ratings Breakdown
9 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$20.50 (127.5% Upside)

About Enovix

Enovix logoEnovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
10/31/2024Janney Montgomery ScottDowngradeBuy ➝ Neutral$10.00
10/30/2024Cantor FitzgeraldReiterated RatingOverweight ➝ Overweight$30.00 ➝ $30.00
10/30/2024BenchmarkReiterated RatingBuy ➝ Buy$25.00 ➝ $25.00
10/22/2024JPMorgan Chase & Co.Lower Price TargetOverweight ➝ Overweight$18.00 ➝ $15.00
8/26/2024OppenheimerReiterated RatingOutperform ➝ Outperform$36.00 ➝ $36.00
8/5/2024Piper SandlerReiterated RatingOverweight ➝ Overweight$23.00 ➝ $19.00
8/1/2024TD CowenBoost Price TargetHold ➝ Hold$11.00 ➝ $14.00
8/1/2024Craig HallumBoost Price TargetBuy ➝ Buy$15.00 ➝ $20.00
8/1/2024Cantor FitzgeraldReiterated RatingOverweight ➝ Overweight$30.00 ➝ $30.00
8/1/2024Canaccord Genuity GroupBoost Price TargetBuy ➝ Buy$17.00 ➝ $20.00


#3 - Aspen Aerogels (NYSE:ASPN)

Consensus Rating
Buy
Rating Score
3.1
Ratings Breakdown
10 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$28.70 (105.3% Upside)

About Aspen Aerogels

Aspen Aerogels logoAspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/12/2024BarclaysLower Price TargetOverweight ➝ Overweight$27.00 ➝ $25.00
11/8/2024Roth MkmLower Price TargetBuy ➝ Buy$36.00 ➝ $31.00
10/22/2024Piper SandlerLower Price TargetOverweight ➝ Overweight$36.00 ➝ $33.00
10/16/2024HC WainwrightReiterated RatingBuy ➝ Buy$30.00 ➝ $30.00
8/21/2024Roth MkmReiterated RatingBuy ➝ Buy$36.00 ➝ $36.00
8/20/2024TD CowenBoost Price TargetBuy ➝ Buy$36.00 ➝ $41.00
8/9/2024HC WainwrightBoost Price TargetBuy ➝ Buy$25.00 ➝ $30.00
8/8/2024BenchmarkReiterated RatingBuy ➝ Buy$14.00 ➝ $14.00
8/6/2024BarclaysInitiated CoverageOverweight$27.00
6/25/2024B. RileyUpgradeStrong-Buy


#4 - Cabot (NYSE:CBT)

Consensus Rating
Hold
Rating Score
2.0
Ratings Breakdown
1 Buy Ratings, 2 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$105.00 (2.0% Downside)

About Cabot

Cabot logoCabot Corporation operates as a specialty chemicals and performance materials company. The company operates through two segments, Reinforcement Materials and Performance Chemicals. It offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/11/2024JPMorgan Chase & Co.DowngradeNeutral ➝ Underweight$105.00 ➝ $105.00
11/5/2024MizuhoBoost Price TargetOutperform ➝ Outperform$103.00 ➝ $122.00
8/7/2024JPMorgan Chase & Co.Boost Price TargetNeutral ➝ Neutral$95.00 ➝ $105.00
8/6/2024UBS GroupLower Price TargetNeutral ➝ Neutral$103.00 ➝ $98.00
5/7/2024UBS GroupBoost Price TargetNeutral ➝ Neutral$100.00 ➝ $103.00
5/7/2024MizuhoBoost Price TargetBuy ➝ Buy$104.00 ➝ $109.00
4/18/2024Deutsche Bank AktiengesellschaftDowngradeBuy ➝ Hold$88.00 ➝ $95.00
3/27/2024MizuhoInitiated CoverageBuy$104.00
1/8/2024UBS GroupDowngradeBuy ➝ Neutral$90.00 ➝ $87.00
12/14/2023UBS GroupBoost Price TargetBuy ➝ Buy$83.00 ➝ $90.00


#5 - Lithium Americas (TSE:LAC)

Consensus Rating
Moderate Buy
Rating Score
2.8
Ratings Breakdown
3 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
C$7.38 (43.8% Upside)

About Lithium Americas

Lithium Americas logoLithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
10/23/2024BMO Capital MarketsUpgradeHold
10/17/2024National BanksharesUpgradeSector Perform ➝ OutperformC$5.75 ➝ C$7.25
10/16/2024National Bank FinancialUpgradeHold ➝ Strong-Buy
7/29/2024Piper SandlerDowngradeStrong-Buy ➝ Hold
6/6/2024National BanksharesSet Price TargetSector PerformC$7.00
6/5/2024National Bank FinancialUpgradeHold
5/14/2024Eight CapitalUpgradeStrong-Buy
2/8/2024JPMorgan Chase & Co.Lower Price TargetNeutralC$10.00 ➝ C$7.50
12/11/2023JPMorgan Chase & Co.Set Price TargetNeutralC$10.00
11/15/2023National BanksharesSet Price TargetOutperformC$16.00


#6 - Orion (NYSE:OEC)

Consensus Rating
Moderate Buy
Rating Score
2.7
Ratings Breakdown
2 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$26.33 (49.7% Upside)

About Orion

Orion logoOrion SA, together with its subsidiaries, engages in the manufacture and sale of carbon black products. It operates in two segments, Specialty Carbon Black and Rubber Carbon Black. The company offers post-treated specialty carbon black grades for coatings and printing applications; high purity carbon black grades for the fiber industry; and conductive carbon black grades for batteries, polymers, and coatings. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/11/2024JPMorgan Chase & Co.UpgradeNeutral ➝ Overweight$20.00 ➝ $21.00
8/7/2024JPMorgan Chase & Co.Lower Price TargetNeutral ➝ Neutral$24.00 ➝ $20.00
5/3/2024MizuhoBoost Price TargetNeutral ➝ Neutral$25.00 ➝ $26.00
3/27/2024MizuhoInitiated CoverageNeutral$25.00
1/11/2024UBS GroupLower Price TargetBuy ➝ Buy$33.00 ➝ $32.00
12/14/2023UBS GroupBoost Price TargetBuy ➝ Buy$31.00 ➝ $33.00
8/11/2023JPMorgan Chase & Co.Lower Price TargetNeutral ➝ Neutral$26.00 ➝ $21.00
8/10/2023Credit Suisse GroupLower Price TargetOutperform ➝ Outperform$27.00 ➝ $26.00
6/20/2023Loop CapitalLower Price Target$41.00 ➝ $35.00
4/14/2023JPMorgan Chase & Co.DowngradeOverweight ➝ Neutral$26.00


#7 - Exxon Mobil (NYSE:XOM)

Consensus Rating
Moderate Buy
Rating Score
2.6
Ratings Breakdown
11 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$130.21 (8.2% Upside)

About Exxon Mobil

Exxon Mobil logoExxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/19/2024TD CowenBoost Price TargetBuy ➝ Buy$127.00 ➝ $132.00
11/4/2024Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$120.00 ➝ $120.00
11/4/2024TD CowenLower Price TargetBuy ➝ Buy$130.00 ➝ $127.00
10/31/2024JPMorgan Chase & Co.Boost Price Target$127.00 ➝ $128.00
10/31/2024Morgan StanleyLower Price Target$142.00 ➝ $140.00
10/31/2024Wolfe ResearchBoost Price Target$137.00 ➝ $138.00
10/31/2024The Goldman Sachs GroupBoost Price Target$118.00 ➝ $120.00
10/17/2024Bank of AmericaInitiated CoverageNeutral$124.00
10/10/2024ScotiabankUpgradeSector Perform ➝ Sector Outperform$129.00 ➝ $145.00
10/9/2024BNP ParibasDowngradeNeutral ➝ Underperform$105.00


#8 - Energizer (NYSE:ENR)

Consensus Rating
Hold
Rating Score
2.3
Ratings Breakdown
2 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
Consensus Price Target
$37.63 (0.1% Downside)

About Energizer

Energizer logoEnergizer Holdings, Inc, together with its subsidiaries, manufactures, markets, and distributes household batteries, specialty batteries, and lighting products worldwide. It offers lithium, alkaline, carbon zinc, nickel metal hydride, zinc air, and silver oxide batteries under the Energizer, Eveready, and Rayovac brands; primary, rechargeable, specialty, and hearing aid batteries; and handheld, headlights, lanterns, and area lights, as well as flashlights under the Hard Case, Dolphin, and WeatherReady brands. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/20/2024Truist FinancialBoost Price TargetBuy ➝ Buy$40.00 ➝ $45.00
11/20/2024Canaccord Genuity GroupBoost Price TargetHold ➝ Hold$32.00 ➝ $36.00
11/20/2024Morgan StanleyBoost Price TargetEqual Weight ➝ Equal Weight$33.00 ➝ $36.00
11/20/2024BarclaysDowngradeOverweight ➝ Equal Weight$34.00 ➝ $36.00
11/20/2024JPMorgan Chase & Co.UpgradeUnderweight ➝ Neutral$32.00 ➝ $39.00
10/11/2024BarclaysBoost Price TargetOverweight ➝ Overweight$32.00 ➝ $34.00
10/11/2024JPMorgan Chase & Co.Boost Price TargetUnderweight ➝ Underweight$29.00 ➝ $32.00
8/27/2024Truist FinancialUpgradeHold ➝ Buy$30.00 ➝ $40.00
8/7/2024JPMorgan Chase & Co.Boost Price TargetUnderweight ➝ Underweight$28.00 ➝ $29.00
8/7/2024Royal Bank of CanadaReiterated RatingSector Perform ➝ Sector Perform$38.00 ➝ $38.00


#9 - Albemarle (NYSE:ALB)

Consensus Rating
Hold
Rating Score
2.2
Ratings Breakdown
6 Buy Ratings, 15 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$114.47 (4.5% Upside)

About Albemarle

Albemarle logoAlbemarle 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 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
11/12/2024Royal Bank of CanadaBoost Price TargetOutperform ➝ Outperform$108.00 ➝ $133.00
11/12/2024KeyCorpLower Price TargetOverweight ➝ Overweight$132.00 ➝ $127.00
11/8/2024OppenheimerLower Price TargetOutperform ➝ Outperform$171.00 ➝ $170.00
10/25/2024Robert W. BairdLower Price TargetNeutral ➝ Neutral$85.00 ➝ $79.00
10/8/2024Wells Fargo & CompanyBoost Price TargetEqual Weight ➝ Equal Weight$100.00 ➝ $110.00
8/28/2024Evercore ISILower Price TargetOutperform ➝ Outperform$190.00 ➝ $170.00
8/19/2024JPMorgan Chase & Co.Lower Price TargetNeutral ➝ Neutral$115.00 ➝ $78.00
8/16/2024Deutsche Bank AktiengesellschaftLower Price TargetHold ➝ Hold$105.00 ➝ $80.00
8/8/2024Piper SandlerLower Price TargetUnderweight ➝ Underweight$95.00 ➝ $90.00
8/6/2024ScotiabankLower Price TargetSector Perform ➝ Sector Perform$135.00 ➝ $85.00


#10 - Sociedad Química y Minera de Chile (NYSE:SQM)

Consensus Rating
Hold
Rating Score
2.4
Ratings Breakdown
4 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$48.69 (25.5% Upside)

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile logoSociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders. Read More 
 

Recent Analyst Ratings

DateBrokerageActionRatingPrice TargetDetails
10/11/2024JPMorgan Chase & Co.DowngradeOverweight ➝ Neutral$55.00 ➝ $44.00
8/26/2024Jefferies Financial GroupLower Price TargetBuy ➝ Buy$62.80 ➝ $55.00
8/21/2024Bank of AmericaLower Price TargetUnderperform ➝ Underperform$47.00 ➝ $38.00
8/9/2024The Goldman Sachs GroupUpgradeNeutral ➝ Buy
7/31/2024Berenberg BankInitiated CoverageHold$35.00
7/18/2024Deutsche Bank AktiengesellschaftLower Price TargetHold ➝ Hold$45.00 ➝ $36.00
6/4/2024Bank of AmericaLower Price TargetUnderperform ➝ Underperform$48.00 ➝ $47.00
5/28/2024Deutsche Bank AktiengesellschaftBoost Price TargetHold ➝ Hold$42.00 ➝ $45.00
5/24/2024BMO Capital MarketsLower Price TargetOutperform ➝ Outperform$70.00 ➝ $65.00
4/23/2024The Goldman Sachs GroupLower Price TargetNeutral ➝ Neutral$54.50 ➝ $46.50


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