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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, 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.
The 10 Best Lithium Stocks to Buy Now
Rebecca McKeever
MarketBeat
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Three key factors that can significantly affect lithium stock prices are:
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Supply and Demand Dynamics: Lithium is a critical component in batteries used for electric vehicles (EVs), consumer electronics, and renewable energy storage. The balance between the supply of lithium and the demand for these products is a primary driver of lithium stock prices. Any disruptions in lithium production or substantial changes in demand, such as increased adoption of EVs, can impact prices.
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Commodity Prices: Lithium is a commodity, and its prices are influenced by global commodity market trends. Factors such as changes in lithium production costs, geopolitical events, currency fluctuations, and broader commodity market dynamics can have a direct impact on lithium stock prices.
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Technological Advancements and Regulations: Developments in battery technology and government regulations related to energy storage and EV adoption can significantly affect lithium stocks. Advancements that improve the efficiency and performance of lithium-ion batteries may lead to increased demand for lithium, positively impacting stock prices. Conversely, regulatory changes that influence battery standards or environmental policies can have both positive and negative effects on the industry.
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