Arcadium Lithium Stock (NYSE:ALTM), Trade Ideas

Arcadium Lithium

Altus Midstream

Arcadium Lithium is a pure-play lithium producer that was formed in the Allkem-Livent merger in January 2024. Arcadium should benefit from increased lithium demand via higher electric vehicle adoption, as lithium is a key component of EV batteries. The company's low-cost lithium carbonate production comes from two brine resources in Argentina. Arcadium also produces spodumene, a hard rock lithium upstream concentrate, from a mine in Australia and operates downstream lithium hydroxide conversion plants in the United States and China.

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<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>Beaten-down lithium prices aren&rsquo;t sustainable. In fact, according to&nbsp;<em><a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">The Wall Street Journal</a></em>, prices have fallen too much to cover the cost of supply needed for electric vehicles (<span>EVs</span>). All of which will eventually lead to a monster opportunity for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy.</p>



<p>&ldquo;A recovery isn&rsquo;t yet in sight, but one will have to come eventually. Lithium prices are now too low to justify a chunk of today&rsquo;s ore extraction in Australia and China, let alone investment in new production necessary to feed expected growth in the EV market. That is setting up the conditions for a shortage and rally,&rdquo;&nbsp;<a href="https://www.wsj.com/finance/commodities-futures/are-lithium-stocks-at-rock-bottom-594111c7#:~:text=A%20recovery%20isn't%20yet,for%20a%20shortage%20and%20rally.">they added</a>.</p>



<p>We also have to consider that,&nbsp;&ldquo;With some lithium mines shutting down or reducing production&nbsp;<a href="https://seekingalpha.com/article/4663102-top-10-lithium-companies-to-consider-potentially-approach-lithium-price-bottom">we could see less supply</a>. This could help stabilize prices and send lithium prices higher with demand,&rdquo; as I noted on Jan. 21.</p>



<p>All things considered, I&rsquo;d start accumulating lithium stocks on the cheap now.&nbsp;</p>



<p><a href="https://acquirersmultiple.com/2020/10/john-templeton-the-principle-of-maximum-pessimism/">As Sir John Templeton said</a>: </p>




<p>&ldquo;People are always asking me where is the outlook good, but that&rsquo;s the wrong question. The right question is: Where is the outlook the most miserable? In almost every activity of normal life people try to go where the outlook is best. You look for a job in an industry with a good future, or build a factory where the prospects are best. But my contention is if you&rsquo;re selecting publicly traded investment, you have to do the opposite.&rdquo;</p>




<p>With that, here are seven top lithium stocks to buy.</p>



<h2><strong>Albemarle (ALB)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div><p>Investors are aggressively buying&nbsp;<strong>Albemarle</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a>).</p>



<p>Since bottoming out around $110, the stock is now up to $131.74, and is close to refilling its bearish gap around $140. From here, if ALB can break above resistance at $142.73, it could potentially retest $150 near term. Helping, the stock is still inexpensive, trading at just 9.6x earnings, 1.6x book, with a yield of about 1.24% at the moment. Plus, Oppenheimer analyst Colin Rusch has an &ldquo;outperform&rdquo; rating on the stock, with a price target of $188.</p>



<p>Once lithium prices finally bottom out, I expect for ALB to be one of the big winners. In the meantime, as we wait, at least we can collect its dividend. On Feb. 22, the company announced a quarterly dividend of 40 cents ($1.60 annualized), payable April 1 to shareholders of record as of March 15. If you missed this one, more should be on the way.</p>



<h2><strong>Arcadium Lithium (ALTM)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div><p>Another one of the top lithium stocks to buy is <strong>Arcadium Lithium</strong> (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/"><strong>ALTM</strong></a>).</p>



<p>The $4.63 billion company that combined Allkem and Livent to create one of the world&rsquo;s biggest lithium companies is also inexpensive at $4.31. Technically, the chart is a disaster. But that&rsquo;s to be expected with depressed lithium prices. Given time, and an overdue recovery, I&rsquo;d like to see ALTM back at $5.50 initially. From there, it has a gap to refill around $5.75.</p>



<p><a href="https://www.prnewswire.com/news-releases/arcadium-lithium-releases-fourth-quarter-and-full-year-2023-results-and-provides-2024-full-year-outlook-302069315.html">Also, CEO Paul Graves recently said</a>:</p>




<p>&ldquo;It is clear that very few lithium expansion projects make economic sense at current market prices, and the longer prices stay near these levels the greater the impact will be on future supply shortfalls. As we saw in 2022, this will increase the likelihood of a rapid increase in future lithium prices,&rdquo; as quoted in a company release. </p>




<p>Once that happens, ALTM will be very well positioned for upside.</p>



<p>Helping, Loop Capital has a &ldquo;buy&rdquo; rating, with a price target of $9 a share.</p>



<h2><strong>Sociedad Quimica y Minera (SQM)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/sqm-stock-1-300x169.jpg" alt="Sociedad Quimica y Minera logo displayed on a mobile phone with the company's web page on it. SQM stock"><div>Source: madamF / Shutterstock.com</div></div><p>With a yield of 10.22%,&nbsp;<strong>Sociedad Quimica y Minera</strong>&nbsp;(NYSE:<span><a href="https://investorplace.com/stock-quotes/sqm-stock-quote/"><strong>SQM</strong></a></span>) we can get paid to wait for recovery here, too. At the moment, it&rsquo;s consolidating at around $49 a share. From here, I&rsquo;d like to see it test its December high of $64. It&rsquo;s also still trading at 6.8x earnings, and 1.8x sales, which is far less than its five-year average of 4.54.</p>



<p>Earnings haven&rsquo;t been hot here either. But that&rsquo;s to be expected in the current environment. In its most recent quarter,&nbsp;SQM said <a href="https://investorplace.com/2024/01/why-these-3-lithium-stocks-should-be-on-your-radar-in-2024/" target="_blank">revenue slipped 38% year-over-year</a> (<span>YOY</span>) to $1.84 billion. Net income came in 56% lower YOY to $479.9 million, as EPS crumbled 56% to $1.68 YOY.&nbsp;</p>



<p>However, a good amount of negativity has been priced in. Helping,&nbsp;Loop Capital&nbsp;<a href="https://thefly.com/news.php?symbol=SQM">recently raised its price target</a>&nbsp;on SQM to $62, with a &ldquo;hold&rdquo; rating. Again, while we wait for the eventual recovery in SQM, we can sit back and collect its dividends.</p>



<h2><strong>Atlas Lithium (ATLX)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600h-300x169.jpg" alt="rows of lithium ion batteries"><div>Source: Lightboxx/ShutterStock.com</div></div><p>The last time I mentioned&nbsp;<strong>Atlas Lithium</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/atlx-stock-quote/"><strong>ATLX</strong></a>), it traded at around $14 on March 22. It&rsquo;s still another one of the top lithium stocks to buy.</p>



<p>At the time, I noted: </p>




<p>&ldquo;The company recently said it achieved full funding for its early revenue strategy to allow for the start of production later this year.&nbsp;Two, the company just said the&nbsp;<a href="https://www.atlas-lithium.com/news/atlas-lithium-progresses-with-dms-plant-construction-remains-on-schedule-for-q4-2024-production/">construction of its modular dense</a>&nbsp;media separation lithium processing plant remains on track for completion in Q2 2024.&rdquo;</p>




<p>Today, the stock is up to $17.02. From here, if it can break above resistance at around $17.80, it could potentially test $20 next. Helping, Alliance Global Partners raised its price target on ATLX to $75 from $70 a share. Better, the company just signed a $30 million definitive agreement and offtake agreement with Mitsui &amp; Co.</p>



<p>&ldquo;Mitsui has entered into an offtake agreement for the future purchase of 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium&rsquo;s soon to be producing Neves Project in Brazil&rsquo;s Lithium Valley,&rdquo;&nbsp;<a href="https://seekingalpha.com/news/4084878-atlas-lithium-bags-30m-investment-from-mitsui-signs-offtake-agreement">noted Seeking Alpha</a>.</p>



<h2><strong>Frontier Lithium (LITOF)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium-300x169.jpg" alt="a lithium mine, ATLX stock"><div>Source: Shutterstock</div></div><p>There&rsquo;s also <strong>Frontier Lithium</strong> (OTCMKTS:<a href="https://investorplace.com/stock-quotes/litof-stock-quote/"><strong>LITOF</strong></a>), a small $137 million company trading at just 60 cents.</p>



<p>This is a pre-production company that wants to become a major manufacturer of battery-quality lithium materials for EVs and battery supply chains in North America. At the moment, it&rsquo;s developing the PAK Lithium Project, which reportedly holds one of North America&rsquo;s highest-grade, large-tonnage, hard-rock lithium resources in the form of a rare low-iron spodumene, as noted in the company&rsquo;s investor deck.&nbsp;</p>



<p>Most recently, the company signed a definitive agreement with <strong>Mitsubishi</strong> to&nbsp;establish a joint venture partnership for the PAK Lithium Project mine and planned lithium chemicals conversion facility.&nbsp;<a href="https://seekingalpha.com/news/4075389-frontier-lithium-surges-after-forming-jv-with-mitsubishi-for-canada-lithium-project">According to the press release</a>, &ldquo;This&nbsp;JV partnership delivers immediate and near-term financing to aggressively advance the first fully integrated lithium mining and processing operation in&nbsp;Ontario.&rdquo;</p>



<p><a href="https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2003-tsx-venture/fl/87780-frontier-discovers-a-new-spodumene-bearing-pegmatite-bolt-between-the-pak-and-spark-deposits.html">As also noted by the company</a>: </p>




<p>&ldquo;The Project remains largely unexplored; however, since 2013, the company has delineated two premium spodumene-bearing lithium deposits (PAK &amp; Spark), located 2.3 Km apart. These deposits are supported by probable reserves of 22 million tonnes (Mt) averaging 1.55% lithium oxide (Li2O) and a measured and indicated resource of 26 Mt averaging 1.6% Li2O and inferred resource of 32.5 Mt averaging 1.4% Li2O.&rdquo;</p>




<h2><strong>Sprott Lithium Miners ETF (LITP)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-1-300x169.jpg" alt="a group of batteries"><div>Source: Shutterstock</div></div><p>Or, you can always invest in an ETF for diversification at a low cost. For example, the&nbsp;<strong>Sprott Lithium Miners ETF</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/litp-stock-quote/"><strong><span>LITP</span></strong></a>).&nbsp;With an expense ratio of 0.65%, the ETF has 49 holdings and trades for just under $10 a share.</p>



<p>It&rsquo;s also the only pure play ETF with a focus on lithium mining companies. All of which should be well-positioned to benefit from explosive interest in clean energy and EVs. Also, while the ETF struggled for much of 2023, that&rsquo;s to be expected when other lithium stocks are falling. However, with many names starting to recover, so is the LITP ETF. With a good deal of patience and growing demand for lithium, it will eventually come back even stronger.</p>



<p>Some of its top lithium stocks to buy holdings include Albemarle,&nbsp;<strong>Livent Corp</strong>. (NYSE:<a href="https://investorplace.com/stock-quotes/lthm-stock-quote/"><strong><span>LTHM</span></strong></a>),&nbsp;<strong>Lithium Americas</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/"><strong><span>LAC</span></strong></a>),&nbsp;American Lithium (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/amli-stock-quote/"><strong>AMLI</strong></a></span>)&nbsp;and&nbsp;<strong>Ganfeng Lithium</strong>&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/gnenf-stock-quote/"><strong><span>GNENF</span></strong></a>) to name a few. Last trading at just under $10, I&rsquo;d like to see the LITP ETF retest $13 near term.</p>



<h2><strong>Amplify Lithium &amp; Battery Technology ETF (BATT)</strong></h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600f-300x169.jpg" alt="a pile of lithium. lithium stocks"><div>Source: Bjoern Wylezich/ShutterStock.com</div></div><p>With an expense ratio of 0.59%, the&nbsp;<strong>Amplify Lithium &amp; Battery Technology ETF&nbsp;</strong>(NYSEARCA:<a href="https://investorplace.com/stock-quotes/batt-stock-quote/"><strong><span>BATT</span></strong></a>) provides exposure to global companies that develop, produce and use lithium battery technology &mdash; all for less than $10 a share.&nbsp;</p>



<p>BATT ETF has 89 holdings, including <strong>Tesla</strong> (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong><span>TSLA</span></strong></a>), Albemarle, Sociedad Quimica and&nbsp;<strong>Panasonic</strong> (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/"><strong>PCRFY</strong></a>). It is another hot ETF that could double, even triple, when lithium prices and related stocks start to push well off their low. While simplistic to say, it&rsquo;s only a matter of time before lithium recovers and takes the BATT ETF along for the ride.</p>



<p>Last trading at $9.45, I&rsquo;d like to see the BATT ETF run significantly higher. In fact, once the lithium boom gets hot again &mdash; which will again happen &mdash; the BATT ETF could retest its late 2021 high of $18.36 again, with a good deal of patience. Remember, with production being cut with low lithium prices, that&rsquo;ll eventually backfire when green energy demand picks back up.</p>



<p><em>On the date of publication, Ian Cooper did not hold (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</em><em>&nbsp;</em><em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a></em></p>
<div><p>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/7-lithium-stocks-to-buy-on-the-dip-april-2024/">7 Lithium Stocks to Buy on the Dip: April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

7 Lithium Stocks to Buy on the Dip: April 2024

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<p>The best <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to buy in April, in my opinion, are not often talked about by traditional financial media. These companies are often overlooked, flying under the radar of many investors. However, these underrated lithium explorers and miners could present compelling opportunities for those willing to do their due diligence.&nbsp;</p>



<p>The best thing about these lesser-known lithium companies is that they often trade at relatively low valuation ratios compared to their more established peers. With their projects still in the development or exploration stages, these companies may not be generating significant revenue or profits yet, which can result in depressed stock prices and valuations.</p>



<p>If one is already interested or invested in names such as <strong>Tesla </strong>(NASDAQ:<span><a href="https://investorplace.com/stock-quotes/tsla-stock-quote/"><strong>TSLA</strong></a></span>), it would make sense to consider these companies as well. The lithium and EV industry at times show signs of strong correlation, and these names could deliver even stronger returns.</p>



<p>So, here are three of the best lithium stocks to buy in April.</p>



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div><p><strong>Piedmont Lithium</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/pll-stock-quote/"><strong>PLL</strong></a></span>) focuses on becoming a strategic domestic supplier of lithium hydroxide for the EV and battery storage markets.</p>



<p>PLL is definitely one of the smaller lithium stocks, with a market cap of around $249 million at the time of writing. To me, this company sits in the sweet spot between established and speculative, offering stability and considerable capital growth potential.</p>



<p>In 2023, the company <a href="https://piedmontlithium.com/piedmont-lithium-reports-third-quarter-2023-results/">reported significant operational activities,</a> including the shipping of 29,011 dry metric tons (dmt) of lithium concentrate in Q3 and its involvement in the Ewoyaa lithium project in Ghana. Financially, PLL reported a <a href="https://finance.yahoo.com/news/piedmont-lithium-reports-q4-full-210500637.html">full-year revenue</a> of $39.8 million from the sale of spodumene concentrate, with a gross profit of $5.7 million.&nbsp;</p>



<p>Looking ahead to 2024, PLL initiated cost-saving measures expected to reduce operating expenses by $10 million annually, including a workforce reduction mainly within its corporate office.</p>



<p>I <a href="https://www.businessinsider.com/tech-layoffs-stock-market-reaction-meta-spotify-wall-street-investors-2024-2">love stocks that initiate layoffs</a> because data shows that companies tend to outperform on both a fundamental and capital appreciation basis for their share after initiating them. PLL is one of the few companies in the lithium industry pursuing this line. That, to me, is a great reason to scoop up shares.</p>



<h2>Atlas Lithium (ATLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div><p><strong>Atlas Lithium</strong> (NASDAQ:<span><a href="https://investorplace.com/stock-quotes/atlx-stock-quote/"><strong>ATLX</strong></a></span>), operating in Brazil&rsquo;s Lithium Valley, has made significant spodumene discoveries.</p>



<p>The reason I think ATLX could be a winner is due to its outlook and dirt-cheap valuation. The company <a href="https://www.atlas-lithium.com/news/atlas-lithium-fully-funded-to-first-production-in-2024/">set ambitious targets</a> for its Phase 1 annualized production, aiming to reach up to 150,000 tonnes per annum of battery-grade spodumene concentrate by Q4 2024. Furthermore, ATLX plans to increase its production capacity to 300,000 tonnes per annum by mid-2025.</p>



<p>It should be noted that ATLX has essentially been in the pre-revenue stage and has a significant cash burn, but its cash burn is manageable relative to its cash and cash equivalents on its balance sheet.</p>



<p>Still, ATLX&rsquo;s valuation, at $18.63 per share, is significantly lower than its peers with equivalent spodumene production. The discount ATLX receives comes from its operational risks and other speculative features, but it could be a long-term winner for those who are risk-tolerant enough to own shares.</p>



<h2>Arcadium Lithium (ALTM)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-300x169.jpg" alt="lithium (LI) on the periodic table. top performing lithium stocks"><div>Source: Shutterstock</div></div><p><strong>Arcadium Lithium</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/altm-stock-quote/"><strong>ALTM</strong></a></span>) emerges post-merger as a leading integrated lithium chemical producer with impressive growth and profitability metrics. These are some of the reasons I think it&rsquo;s one of the best lithium stocks to buy in April.</p>



<p>In 2024, ALTM <a href="https://ir.arcadiumlithium.com/investors/news/news-details/2024/Arcadium-Lithium-Releases-Fourth-Quarter-and-Full-Year-2023-Results-and-Provides-2024-Full-Year-Outlook/default.aspx">plans significant growth</a> in its lithium hydroxide and lithium carbonate volumes, expecting a 40% increase. That expansion follows multi-year investments, but the company intends to reduce near-term capital expenditures. ALTM projects growth capital spending between $450 and $625 million, with maintenance capital expenditure estimated at $100 to $125 million.&nbsp;</p>



<p>Financially, ALTM expects increased revenue and adjusted EBITDA based on two lithium market price scenarios without providing exact forecasts. It estimated revenue to be around $1,250 million at a lower price point and $1,900 million at a higher price point, with corresponding adjusted EBITDA of approximately $420 million and $1,000 million.</p>



<p>It may take some time for ALTM to extract all of the equity from its most recent merger, but once it finds the synergies that management signed up for, it could very well turn into a market leader.</p>



<p><em>On the date of publication, Matthew Farley did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a></em></p>
<div><p>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/the-3-best-lithium-stocks-to-buy-in-april-2024/">The 3 Best Lithium Stocks to Buy in April 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

The 3 Best Lithium Stocks to Buy in April 2024

<p><a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a></p>
<p>The lithium market faces challenges as electric vehicle (<strong>EV</strong>) demands wane and investors depart from related companies. </p>



<p>However, the global economy is no stranger to change. A key component of EV batteries, Lithium may experience a sudden wave of innovation as more countries adopt greener technologies.&nbsp;Admittedly, I don&rsquo;t know <em>when</em> the lithium market will experience a resurgence of growth. What I do know is that, with low prices, now is a great time to add some <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> to my portfolio.</p>



<p>So, considering companies with the expertise, capacity, and foundations, I have three that I&rsquo;m watching.</p>



<h2>Albemarle Corporation (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div><p>If you follow the lithium market, <strong>Albemarle Corporation </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/alb-stock-quote/"><strong>ALB</strong></a></span>), the largest global lithium producer, should be a familiar name. The stock&rsquo;s price has significantly declined due to lithium&rsquo;s downward price performance and a recently announced <a href="https://www.prnewswire.com/news-releases/albemarle-announces-upsize-and-pricing-of-public-offering-of-depositary-shares-302081265.html">equity offering</a>.&nbsp;</p>



<p>Regardless, Albemarle Corporation is an industry giant. And, it has a good chance for recovery once lithium prices grow and demand picks up. Value seekers may see this as an opportunity to start picking up ALB stock at a low price as growth and capacity supplies the global need for lithium &ndash; thanks to a greener economy.&nbsp;</p>



<p>Also, Albemarle reported a strong <a href="https://s201.q4cdn.com/960975307/files/doc_earnings/2023/q4/earnings-result/Q42023_pressrelease.pdf">2023 sales record of $9.6 billion</a>, representing a 31% year over year (<strong>YOY</strong>) growth, cementing its position as a global leader. While the company experiences challenges in China, it has achieved the second-highest net income in its history. It reached $1.6 billion, equivalent to $13.36 per diluted share.&nbsp;</p>



<p>One of its key ongoing projects is the mechanical completion of the <a href="https://s201.q4cdn.com/960975307/files/doc_earnings/2023/q4/earnings-result/Q42023_pressrelease.pdf">Meishan lithium conversion</a> plant, which gives the company more potential for future growth. With its strong performance and growing presence in the lithium industry, ALB is a buy.</p>



<h2>Exxon Mobil Corporation (XOM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/exxon-stock-1-300x169.jpg" alt="Exxon Retail Gas Location"><div>Source: Jonathan Weiss / Shutterstock.com</div></div><p>While the company is known for its oil, energy, and petrochemical operations, <strong>Exxon Mobil Corporation</strong> (NYSE:<span><a href="https://investorplace.com/stock-quotes/xom-stock-quote/"><strong>XOM</strong></a></span>) operates diversified businesses. These include energy products, specialty products, exploration of natural gases, and <a href="https://lowcarbon.exxonmobil.com/lower-carbon-technology/mobil-lithium?_gl=1&#x2A;oy8p9g&#x2A;_gcl_au&#x2A;MTg4MTE2NzE3OC4xNzExODM4MDkw&#x2A;_ga&#x2A;MTk1NjAwMjIzOS4xNzExODM4MDkw&#x2A;_ga_0MQGMC0BXC&#x2A;MTcxMTgzODA5MC4xLjAuMTcxMTgzODA5NS41NS4wLjA.">MobilTM lithium</a>.&nbsp;</p>



<p>In 2023, the company started drilling on the Arkansas lithium well; production is expected in 2027. As per <a href="https://investor.exxonmobil.com/news-events/press-releases/detail/1156/exxonmobil-announces-2023-results">company filings</a>, Exxon Mobil corporation &ldquo;aims to produce enough MobilTM Lithium with the potential to supply approximately one million EVs per year.&rdquo;</p>



<p>Notably, the company&rsquo;s entry into the lithium market pits the oil giant against global competitors. However, XOM&rsquo;s strong relationship with the automotive industry and its brand recognition open it up to newly fostered business relationships in the future.&nbsp;</p>



<p>Exxon&rsquo;s fiscal year 2023 <a href="https://investor.exxonmobil.com/news-events/press-releases/detail/1156/exxonmobil-announces-2023-results">earnings reached $36.0 billion</a>, decreasing by $19.7 billion YOY. Still, the company reiterated its commitment to shareholder value by giving back $32.4 billion in dividends and buybacks. Currently, the company pays a 95 cent per quarter dividend, or $3.80 annually, which translates to a 3.27% yield.&nbsp;</p>



<p>With the fast globalization of a green economy on its tracks, investors should keep tabs on XOM stock as it prepares to capture a big part of this growing EV and lithium industry.&nbsp;</p>



<h2>Arcadium Lithium (ALTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/04/ev-solid-state-battery1600-300x169.png" alt="Solid State Battery for EV Electric Vehicle, new research and development batteries with solid electrolyte energy storage for automotive car industry, cathode. 3d illustration. Top Battery Stocks to Buy"><div>Source: Just_Super / Shutterstock.com</div></div><p>Born from the merger of Allkem and Livent, <strong>Arcadium Lithium </strong>(NYSE:<span><a href="https://investorplace.com/stock-quotes/altm-stock-quote/"><strong>ALTM</strong></a></span>) is a chemical producer specializing in lithium products. </p>



<p>Livent&rsquo;s lithium processing technologies and Allkem&rsquo;s growth pipeline make Arcadium Lithium a global lithium powerhouse. Their products are used in battery-grade lithium carbonate, lithium hydroxide, and butyllithium applications.&nbsp;</p>



<p>ALTM stock price had a rough time since the beginning of 2024, down 36.49% on the back of unfavorable market conditions. However, its fiscal year 2023 financials were excellent.&nbsp;</p>



<p>Revenue grew to <a href="https://ir.arcadiumlithium.com/investors/news/news-details/2024/Arcadium-Lithium-Releases-Fourth-Quarter-and-Full-Year-2023-Results-and-Provides-2024-Full-Year-Outlook/">$882.5 million</a> from $813.2 million last year. Meanwhile, net income rose to $330.1 million, slightly higher than last year&rsquo;s $273.5 million. Also, ALTM reported a 40% increase in lithium carbonate and hydroxide volumes.&nbsp;</p>



<p>Furthermore, management foresees significant savings of $60 to 80 million in 2024 through its streamlined operations and synergies. With the continued adoption of EVs and its strong financials, the company is an excellent addition to any lithium stocks portfolio.</p>



<p><em>On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com </em><a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"><em>Publishing Guidelines</em></a>.</p>
<div><p>Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.</p></div><h3>More From InvestorPlace</h3>
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<p>The post <a href="https://investorplace.com/2024/04/striking-it-rich-with-lithium-3-stocks-to-fuel-your-fortune/">Striking it Rich with Lithium: 3 Stocks to Fuel Your Fortune</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.</p>

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<p>It&rsquo;s tough to puff your chest out and invest in the stock market lately. The stock market has slowed down in the past month, delivering negative returns. The escalating situation in the Middle East and a disappointing inflation report are among the main factors dragging down the market. In such a scenario, investors must focus on stocks with price target hikes.</p>



<p>Betting on stocks recently receiving price target hikes from top analysts can be incredibly advantageous. Such endorsements usually mean that analysts foresee positive momentum or uncover value that has been overlooked by the market. Analysts&rsquo; revisions often result from encouraging fundamentals, potential market expansion, or improved financial outlooks. Such is the case with these three analyst-endorsed stocks offering stellar upside ahead.</p>



<h2>Arcadium Lithium (ALTM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600h-300x169.jpg" alt="rows of lithium ion batteries"><div>Source: Lightboxx/ShutterStock.com</div></div><ul><li>Previous Rating: &lsquo;Buy&rsquo;</li>



<li>New Rating: &lsquo;Strong Buy&rsquo;</li>
</ul><p><strong>Arcadium Lithium</strong>&nbsp;(NYSE:<a target="_blank" href="https://investorplace.com/stock-quotes/altm-stock-quote/"><strong>ALTM</strong></a>), emerging from the merger of Allkem and Livent, is a leading lithium player. It stands out as a juggernaut in its niche, combining Livent&rsquo;s advanced processing technologies and Allkem&rsquo;s robust growth pipeline.&nbsp;</p>



<p>However, ALTM stock is down over 30% since the start of the year, with lithium prices tanking. Nevertheless, its financials project a story of resilience and growth. Revenue shot up to&nbsp;<a target="_blank" href="https://ir.arcadiumlithium.com/investors/news/news-details/2024/Arcadium-Lithium-Releases-Fourth-Quarter-and-Full-Year-2023-Results-and-Provides-2024-Full-Year-Outlook/">$882.5 million</a>&nbsp;in 2023 from $813.2 million last year. Moreover, net income increased to $330.1 million, considerably higher than last year&rsquo;s $273.5 million.&nbsp;</p>



<p>ALMT is setting the stage for substantial long-term growth as we advance, targeting a 40% jump in lithium hydroxide and carbonate production. Furthermore, its financial projections are optimistic, with anticipated sales between $1,250 million and $1,900 million and adjusted EBITDA ranging from $420 million to $1 billion, depending on lithium market prices. Despite the positives, ALTM stock trades under&nbsp;<a href="https://seekingalpha.com/symbol/ALTM/valuation/metrics" target="_blank">four times trailing twelve-month (TTM) non-GAAP earnings</a>, 75% lower than the sector median.</p>



<h2>TKO Group (TKO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/10/wwe-stock-300x169.jpg" alt="The main event for the World Wide Entertainment (WWE) championship between Kofi Kingston and Kevin Owens."><div>Source: Bjoern Deutschmann / Shutterstock.com</div></div><ul><li>Previous Rating: &lsquo;Buy&rsquo;</li>



<li>New Rating: &lsquo;Strong buy&rsquo;</li>
</ul><p><strong>TKO Group</strong>&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/tko-stock-quote/" target="_blank"><strong>TKO</strong></a>) has been arguably the most talked-about entertainment stock in the past few weeks following the monstrous success of <a href="https://seekingalpha.com/news/4088310-wrestlemania-40-smashes-records-for-tko-group">WWE&rsquo;s&nbsp;<em>WrestleMania X</em>L event</a>. The latest incarnation of WWE&rsquo;s annual showcase event was the most successful in the company&rsquo;s history, shattering records for gate, viewership, and merchandise. Consequently, TKO stock is up an impressive 22% for the month.</p>



<p>TKO shines as an investment, effectively blending the UFC&rsquo;s dynamic appeal with the WWE&rsquo;s global reach. This merger combines two of the biggest entertainment intellectual properties, accessing over a billion households globally. The combined entity is set to continue reaping the benefits of its diverse revenue streams, which include media rights, event ticketing, and branded merchandise. Moreover, it has opened up new revenue streams with investments in online betting, enhancing its market position and prospects for significant long-term expansion and positioning it as a powerhouse in the global entertainment landscape.</p>



<h2>Diamondback Energy (FANG)</h2>



<div><img width="300" height="165" src="https://investorplace.com/wp-content/uploads/2017/06/fangmsn-300x165.jpg" alt="Diamondback Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>)"><div>Source: Shutterstock</div></div><ul><li>Previous Rating: &lsquo;Buy&rsquo;</li>



<li>New Rating: &lsquo;Strong buy&rsquo;</li>
</ul><p><strong>Diamondback Energy</strong>&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/fang-stock-quote/" target="_blank"><strong>FANG</strong></a>) has been in the news in the past few months due to its $26 billion&nbsp;<a href="https://www.reuters.com/markets/deals/diamondback-energy-buy-endeavor-energy-26-billion-deal-2024-02-12/" target="_blank">acquisition of Endeavor Energy Partners</a>. The analyst-endorsed merger will strengthen Diamondback&rsquo;s stronghold in the oil-rich Permian Basin. Moreover, the merger further solidifies Diamondback&rsquo;s presence in a key U.S. energy hub while capitalizing on the ongoing consolidation trend in the sector. To put things in perspective,&nbsp;<a href="https://seekingalpha.com/symbol/FANG/momentum/performance" target="_blank">FANG stock is up 35%</a>&nbsp;year-to-date (YTD), trouncing the <strong>S&amp;P 500&rsquo;s</strong> 8% gain.</p>



<p>Moreover, FANG stock will continue climbing and is positioned for more upside ahead, with production boosts at its existing sites hinting at more potential ahead. Stellar production led to solid operating results in the fourth quarter (Q4). Its strong production helped effectively offset the drop in prices, as its unhedged realized price for oil decreased roughly 5% to $76.42/bbl from $80.37/bbl in the prior-year quarter. Moreover, with Brent futures for June delivery at $89.64, expect strong gains in the upcoming quarter, boosting its top-and-bottom-line results.</p>



<p><em>On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a></em>.</p>
<div><p>Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor&rsquo;s of science degree in applied accounting from Oxford Brookes University.</p></div><h3>More From InvestorPlace</h3>
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