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Monday, June 27, 2022

These best lithium stocks can boost your finances

In order to manufacture rechargeable batteries, lithium is used as the main ingredient. Renewable energy sources have become increasingly important in recent years. It has long been an important component of portable electronic devices, such as smartphones and tablets. The lithium-ion battery has also been used in a number of other industries, including the automobile industry. Consequently, the best lithium stocks are among the most attractive investments.

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There is a growing interest in lithium among investors. By 2030, US President Biden hopes to have 80% of the country’s electrical energy coming from renewable sources. This will lead to the growth of lithium production companies and mines, which is favorable for the best lithium stocks.

Commercial batteries are commonly made from lithium compounds. 

US Geological Survey data indicate that battery production accounts for about 70% of worldwide lithium production. Listed below are the three best lithium stocks that you may find interesting.

Piedmont Lithium Inc. (NASDAQ: PLL) started the day on 01/05/22, with a price decrease of -7.79% at $51.64. During the day, the stock rose to $56.90 and sunk to $51.54 before settling in for the price of $51.64 at the close. Taking a more long-term approach, PLL posted a 52-week range of $28.50-$88.97.

Wall Street analysts track the Piedmont Lithium Inc. (NASDAQ: PLL) stock on daily basis. Out of 8 analysts, 8 deemed the stock a Buy, and 0 gave it a rating of OVERWEIGHT. Another 0 recommended that PLL is a HOLD, while 0 rated it UNDERWEIGHT and the 0 recommended SELL. If we look at the broader picture, the above ratings give the stock an average analyst rating of 1.90.

Lithium Americas Corp. (LAC) is priced at $31.05 after the most recent trading session. The stock price was reached a high price of $33.88, prior to closing the session it reached the value of $31.05. The stock touched a low price of $31.0201.

According to WSJ, Lithium Americas Corp. (NYSE: LAC) obtained an estimated Overweight proposal from the 14 brokerage firms currently keeping a deep eye on the stock performance as compared to its rivals. 0 equity research analysts rated the shares with a selling strategy, 5 gave a holding approach, 7 gave a purchase tip, 2 gave the firm overweight advice, and 0 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that last year discussed the stock is $36.29.

Livent Corporation (NYSE: LTHM) is currently trading at around $24.20, a price level that means its value has jumped 64.29% higher than its 52-week low. In intraday trading, LTHM shares have hit a high of $26.42 and a low of $24.12. The last 52 weeks have seen the company’s shares touched a high of $33.04 and a low of $14.73, while the recent trading session has witnessed an intraday change of just -8.44%.

17 analysts observing the Livent Corporation (LTHM) stock have set the 12-month price targets for the company’s shares at between $22.00 and $40.00. The consensus objective for the share price is $24.20, suggesting that the stock has a potential downside of -24.59% over the period. The median price target is 21.94% away from the current levels at $31.00.

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