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Albemarle Corporation (ALB)

NYSE - Nasdaq Real-time price. Currency in USD
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198.30-2.13 (-1.06%)
At close: 04:00PM EDT
198.32 +0.02 (+0.01%)
Pre-market: 04:10AM EDT
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  • E
    Electric Mike
    Just reinvested the dividend at $195.25.
  • E
    Electric Mike
    Scrolling Top News on right hand side of Bloomberg TV screen: "Battery Metal Supported by Bleak Supply and Strong Demand"

    It is based on a Bloomberg NEF report that came out today. Prices to remain elevated for the rest of the year as demand outgrows production.
  • t
    tufo
    If you’re looking for a short and sweet guide to the day’s biggest news, I recommend (http://winningstocks.club). They breakdown the most important pre-market news and it only takes a few minutes to read.
  • E
    Electric Mike
    New presentation on ALB Investor relations site, from the June 27 Fastmarkets conference. It reads kind of like this is why we are in China now (80% of Cathode/Anode/Cell production is there) and this is what we plan on building out in the Unites States.
    One slide shows CAGR of battery and cathode production capacity in North America between 2021 and 2031: Battery Capacity 29% CAGR, Cathaode Capacity 61% CAGR.

    Also an interesting picture of King's Mountain (currently the mine is a really deep large pond). My first reaction was that is great that the closest neighbor is another very industrial ALB facility. However, when I googled the location (348 Holiday Inn Dr, Kings Mountain, NC) there is a drive-in movie theater that is just barely out of frame at the top of the picture. And, across the road from that is a moderately sized residential community. Wouldn't be surprised if it grew up in conjunction with the mine back when it was operating. So hopefully ALB does have a handle on a community relations. I can't imagine the permits that would be required where I live to even pump the water out of that mine.

    https://investors.albemarle.com/static-files/ffe2ceed-b1a3-4e47-bd33-bcba46dd9dae
  • F
    Fishburne
    I am staying far away from ALB - It looks like it is going to drop off a cliff. I actually get way better stocks at (http://Themaxgains.tech)
  • D
    Dan
    We were so worried about the socialists in Chile we forgot about the socialists in Cali.
  • b
    bigbear
    News Flash...
    Albemarle Corp plans to build a lithium processing plant in the United States that would produce as much of the electric vehicle battery metal as the entire company produces today, a bullish bet on America's all-electric future, an executive said on Monday.
    The company as a result aims to build a processing plant with 100,000 tonnes of annual capacity in the U.S. Southeast somewhere within rail access of a major port, Norris said.
    I wonder if it will be near the Toyota Battery planet here in North Carolina??

    https://finance.yahoo.com/news/1-albemarle-plans-major-u-185828902.html
  • E
    Electric Mike
    I can't post a link, modbot must consider it good news. There are news articles out today with a tagline 'Game over for the Internal Combustion Engine' indicating that Europe is a step closer to approving draft legislation to ban sales of CO2 emitting cars by 2035. Part of a broader package intended to reduce CO2 emissions by 55% by 2030 that was negotiated in a committee and now goes to the full European parliament for another round of negotiations.
  • v
    v
    ALB finally wakes up. Figuring out they can not compete in a communist country selling a commodity. They are over concentrated there and overexposed to country risk. All their conversion capacity can be barred from export with tariffs or just by simple shipping over-charges. The CSuite should be fired. They already gave away their IP, building their capacity fully observable by corp espionage.
  • E
    Electric Mike
    The Google overlord just freaked me out a little. It is a Friday before a long weekend and suddenly I am getting hit by adds for Corvettes out of the blue. And when do I generally talk about Corvettes?
    So I logged on to my account real quick wondering it it knows something that I don't. And, I was like "Shucks" I am already down a Corvette this week!
  • b
    bigbear
    Raising Our Lithium Producer Fair Value Estimates on Higher
    Price Forecast
    Analyst Note Seth Goldstein, CFA, Senior Equity Analyst, 22 Jun 2022
    We have raised our near- and medium-term lithium price forecast. Due to undersupplied market
    conditions, lithium prices are currently in the mid-$70,000 per metric ton range, which is near the all-
    time highs set earlier this year and well above our marginal cost estimate of $12,000 per metric ton.
    While we expect prices to moderate slightly, we forecast lithium carbonate prices will average $70,000
    per metric ton in 2023, down less than 10% from current levels.
    After updating our models to incorporate these changes, we raise our fair value estimates for the
    lithium producers we cover. Narrow-moat Albemarle's fair value estimate increases to $320 per share
    from $290. Narrow-moat Livent's fair value estimate increases to $38 per share from $35. Narrow-moat
    SQM's fair value estimate increases to $115 per share from $100. No-moat Lithium Americas' fair value
    estimate increases to $65 (CAD 84) per share from $49 (CAD 63).
    For investors who want to eschew increased company-specific risk, we also view Albemarle, Livent, and
    SQM as undervalued with the stocks all trading in 4-star territory based on our updated fair value
    estimates. Of the three, our top pick is Albemarle based on an attractive valuation and lower relative risk.
    From - Morningstar..
  • D
    Dan
    Premarket and futures look bleak. It strikes me the weird position we find ourselves in as we look at the economic downturn precipitated by pandemic and war and supercharged by central bank policy the poured so much liquidity into the system pockets overflow with cash that is worth less day by day. But the people on this board and lithium (and solar and wind) investors in general know that the future will favor our investments over the traditional energy supplies that are roaring today. We’re not insulated from the market in general and the real questions are how much resistance to a downturn do we really have and how does all this affect the timeline of the pivot to renewable? We surmise it will accelerate the process but it takes investment and that may be hurt by companies starting to take defensive positions. I wish I had kept my positions in XOM and CVX but I didn’t anticipate Russia’s actions completely roiling the global oil market. Damn crystal ball missed that one. I think we’re in for a year of pain and I don’t know whether to sit it out or stay put. Too many external and contrary forces in play to see how coupled we are into the market in total. The best buffer would be big oil pumping money into lithium now but they may hold off to see if the general downturn drops the price of lithium companies to much sweeter levels.
  • D
    Dan
    Quiet here of late. Everyone just hiding under their rock hoping things just blow over?
  • b
    bigbear
    Can't pass this up, on CNBC when the market is down hard, these two guys show up!!
    Mohamed El-Erian, and Dan Niles, they where guests on CNBC today, these two Money Runners never miss the chance to pile on and try to talk down the market when appearing on the show. Almost always on the show when the Market is getting crushed. Today Niles admitted he has lots of shorts on Tech stocks.
    They are like Goldtrud they have an agenda, and it is themselves.
  • D
    Dan
    Yahoo Finance article talks about the effect of rising costs on auto demand. Only briefly mentions EVs and their cost. What I think is being missed is all these photos of storage yards filled with cars waiting for components. Once the supply chain does unwind a bit more these cars will be quickly turned into salable inventory. At that point supply/demand flips and car companies will be forcing these units on dealers who will have to discount them to move sufficient volume. It’s already starting to happen in other industries and parts of retail are finding they have too much inventory. I think a glut of cheaper gas cars will depress EV sales to some extent for a year or two. They will still grow YOY but it will be a kink in the curve that I haven’t seen mentioned.
  • b
    bigbear
    So much for our "Dead Cat"; he just hit with a splat!
    Ok, not many folks here, but what is the Fed doing tomorrow 1/2 or 3/4 per cent??
    My guess 1/2%
  • D
    Dan
    Hmmm who benefits from cheaper lithium? Battery companies for one. Any names here ring a bell?
    VW and Goldman-backed battery maker Northvolt gets $1.1 billion funding injection
    https://www.cnbc.com/2022/07/06/vw-and-goldman-backed-northvolt-gets-1point1-billion-funding.html
  • V
    Victor
    strange markets today
  • E
    Electric Mike
    Argentina has been in the news a lot lately. I missed this one from RBC. They claimed yesterday that ALB was down with other Lithium producers as ARGENTINA set a customs reference price of $53/kg for Lithium Carbonate and there is a negative perception that somehow this "effectively caps" the price at that point. However, they say the pullback was a buying opportunity as that this possible peak Lithium price is already discounted into the ALB stock price. (We know they are massively profitable at $53/kg.)

    I find it a little bizarre and figure some analyst is kind of projecting a view of their area of interest on the overall market. However, I agree in so much that this act of Argentina setting an assumed reference price of some sort for Customs purposes won't have any negative value on the ALB share price!