|Bid||0.00 x 1000|
|Ask||0.00 x 1200|
|Day's range||154.45 - 163.13|
|52-week range||56.17 - 188.35|
|Beta (5Y monthly)||1.55|
|PE ratio (TTM)||48.56|
|Earnings date||03 Aug 2021 - 09 Aug 2021|
|Forward dividend & yield||1.56 (0.96%)|
|Ex-dividend date||10 Jun 2021|
|1y target est||155.68|
Rising demand for lithium is stoking prices for the electric vehicle battery metal, fueling long-delayed expansions that still may not produce adequate supplies that automakers need to meet aggressive production plans. Albemarle Corp, Livent Corp and other producers are scrambling to make more lithium, but some analysts worry the recent price jump will not spur a big enough expansion to meet a planned wave of new EV models by mid-decade. Since January, General Motors Co, Ford Motor Co LG Energy Solution and SK Innovation Co, along with other automakers and battery parts manufacturers, have said they will spend billions of dollars on EV plants.
ALB earnings call for the period ending March 31, 2021.
Heading into Q1, analysts had forecast that the lithium metals miner would earn $0.80 per share (pro forma) in Q1 on sales of just $757.7 million. As it turned out, though, when Albemarle reported its numbers last night, the company earned $1.10 per share (38% better than expected) on sales of $829.3 million (9% better than expected). Why are its peer producers of the lithium needed for electric car batteries, Lithium Americas (NYSE: LAC) and Livent (NYSE: LTHM), also down -- 9.2% and 9.6%, respectively?