It’s time to think about the best lithium stocks to buy.
With sky-high demand for electric vehicles, and all-things green, lithium will remain a hot commodity. For one, supply can’t keep up with demand. And despite what Goldman Sachs or Bank of America have said about a surplus, they’re wrong.
Also, according to Stellantis CEO Carlos Tavares, there’s not enough lithium to go around.
Automakers are so concerned about supply for EV batteries, they’re racing to secure supply.
For instance, Albemarle (NYSE:ALB) will deliver more than 100,000 tonnes of lithium hydroxide over a five-year period to support Ford EVs. That being said, here are three of the best lithium stocks to buy and hold right now.
| ALB | Albemarle | $218.97 |
| LITP | Sprott Lithium Miners ETF | $18.54 |
| SLI | Standard Lithium | $4.58 |
Albemarle (ALB)
No list of hot lithium stocks is complete with the 800 lb. gorilla Albemarle. Just a couple of days ago,
I mentioned it again as a hot buy at $195.54. Two days later, ALB jumped to $218.82 and could head to $250. Even now, it’s still one of the hottest lithium stocks to own above $200.
Helping, UBS analysts just upgraded the stock to a buy rating, with a price target of $225.
Even Benchmark just said ALB is the best “growth opportunity.” All with ALB sales expected to grow about 12% a year between now and 2025, with EV growth and all things green.
Sprott Lithium Miners ETF (LITP)
Or, we can look at hot ETFs, such as the Sprott Lithium Miners ETF (NASDAQ:LITP).
The low-volume ETF has an expense ratio of 0.65%. Some of its top holdings include Allkem (11.63%), Pilbara Minerals (10.27%), Livent (9.13%), and Albemarle (8.18%).
Since March, the ETF exploded from about $15 to $18.69 so far. From here, I’d like to see it initially retest prior resistance at $20.50 before heading higher.
Standard Lithium (SLI)
There’s also Standard Lithium (NYSEAMERICAN:SLI), which just broke above double top resistance around $4.40.
From a current price, I’d like to see SLI challenge prior resistance around $5 next. Helping, the company just found the “highest grade brine” in Arkansas.
Standard Lithium says that with its strong cash position and momentum, it’s confident it can continue to advance its commercial development strategy.
Plus, the company could become “one of American’s largest lithium providers,” as noted by Investorplace contributor Omor Ibne Ehsan.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.