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Long-term lithium demand is very high, but the market is a mess right now.
Albemarle (ALB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Lithium stocks may be some of the most hated investments at the moment. However, that gives us even more reason to buy.
Albemarle (ALB) was the worst-performing stock in the S&P 500 in intraday trading Monday as the world's biggest lithium producer continues to feel the negative effects of slumping lithium prices.
Albemarle Corporation shares are down 42.2% year to date, mainly due to short-term performance and declining lithium prices. Despite recent revenue drops, the long-term outlook for the company is positive with manageable debt and potential for significant upside. While near term trends may continue downward, the company's valuation is not excessive, making it a potentially attractive investment for value investors.
Lithium stocks to watch have been devastated. But with a good deal of “excessive pessimism” now priced in, it's time to buy.
The price of lithium is down by more than 15% in 2024. Declines are much steeper over the last 12 months.
Albemarle Corporation faces challenges due to falling lithium prices, leading to a significant drop in stock value. Albemarle struggles with negative free cash flow projections even at $15/kg lithium carbonate, $4 above current levels. Preferred shares are now less attractive than the commons if prices recover and run the risk of paying dividends in stock rather than cash if prices stay low.
I feel that now is an ideal time for investors to consider buying into the best lithium stocks outlined in this article. This is because the market for electric vehicles (EVs) and renewable energy solutions is rapidly growing, and lithium, which isan essential element in batteries, is rapidly gaining market attention.
Lithium stocks have been battered in the last few quarters with the big plunge in the metal price. Sentiments for lithium have turned bearish on macroeconomic headwinds and oversupply concerns.