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Zacks.com users have recently been watching Albemarle (ALB) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
The electric vehicle boom isn’t just about passenger cars and trucks, it’s also about the millions of speedboats and other recreational boats
While Albemarle (ALB) faces headwinds from high input costs, it benefits from higher lithium volumes and actions to boost its global lithium capacity.
In addition to the supply of lithium hydroxide, Albemarle (ALB) and Ford plan to explore collaborations to build a closed-loop solution for lithium-ion battery recycling.
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Albemarle (ALB) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
This face-off between two of the major producers of the EV battery metal should help you make investing decisions in this space.
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Meta, Charles Schwab, Albemarle, and Gilead Sciences. Loop Capital upgraded Meta Platforms (NASDAQ:META) to Buy from Hold with a Street high price target of $320.00, as InvestingPro reported in real time. Charles Schwab (NYSE:SCHW) shares rose more than 4% yesterday after Raymond James upgraded the company to Outperform from Market Perform, establishing a $63 target price.
After falling consistently in recent months, Albemarle (NYSE: ALB) stock reversed course this week and was trading up 10% as of 10 a.m. ET Friday, according to data provided by S&P Global Market Intelligence. Bumper numbers from Albemarle and lithium prices rebounding after a steep recent fall proved to be the perfect catalysts for investors to hit the buy button. Lithium carbonate prices hit 19-month lows on April 24 on oversupply concerns and fears of declining electric vehicle (EV) sales.
Currently, lithium carbonate, a key ingredient in EV batteries, is down some 70% from highs but back to where it was priced just in late 2021. Bear in mind that Albemarle, a global mining company that has been around for decades, made a hard pivot to lithium in the last few years. This explains why Albemarle's first-quarter 2023 revenue more than doubled year over year, up 129% to $2.6 billion.
Here is your Pro Recap of the biggest analyst picks you may have missed since yesterday: upgrades for Albemarle, Euronav, Arcturus Therapeutics, and Palo Alto Networks. KeyBanc upgraded Albemarle (NYSE:ALB) to Overweight from Sector Weight with a price target of $270, as reported in real time on InvestingPro. KeyBanc expects demand for lithium in China to improve after a downturn that started in November 2022, noting that its recent checks from the Li industry in China indicate that inventories at the battery cell/EV OEM level are declining, and could bottom out in the coming months.
Albemarle Corp hopes to expand its lithium operations in Chile's Atacama salt flat as early as 2028 with direct lithium extraction (DLE) technology under its current government contract, Ignacio Mehech, the company's Chile manager, told Reuters. "Depending on environmental and other permits needed in Chile, as well as scaling technologies, we believe (DLE) should be implemented, if everything goes well, towards 2028 or 2029," Mehech said during an interview at the company's Atacama lithium mining operations.
It hasn't been the best quarter for Albemarle Corporation ( NYSE:ALB ) shareholders, since the share price has fallen...
The average brokerage recommendation (ABR) for Albemarle (ALB) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
Albemarle (ALB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
In Q1, the lithium giant's earnings soared 334%, driven by powerful lithium demand for EV batteries
Thank you, Forum, and welcome, everyone, to Albemarle's first-quarter 2023 earnings conference call. Joining me on the call today are Kent Masters, chief executive officer; and Scott Tozier, chief financial officer.
(Reuters) -Albemarle Corp is open to renegotiating its Chile lithium contract before 2043 and would seek access to even more of the country's vast reserves of the metal used to make electric vehicle batteries, CEO Kent Masters told Reuters on Thursday. The decision by Chilean President Gabriel Boric last month to gradually nationalize his country's lithium industry sparked concern that U.S. miner Albemarle and rival SQM could be kicked out of the country, even though officials have stressed they would not tear up existing contracts. While lithium for years has typically been produced using open-pit mines or evaporation ponds, Boric's plan relies on the wide scale deployment of direct lithium extraction (DLE) technologies that have so far never worked in commercial operations, but which Albemarle and its peers are studying.
Albemarle (ALB) gains on higher lithium pricing and increased volumes in the first quarter.
(Reuters) -Lithium producer Albemarle Corp cut its annual profit forecast on Wednesday despite posting a better-than-expected quarterly earnings, citing softening prices for the metal used to make electric vehicle batteries. While some producers, most notably Livent Corp, have been able to weather the weak prices due in part to their reliance on long-term contracts, Albemarle said it was being affected and had to trim its expectations for the rest of the year. "We see strong sales volume growth for the rest of the year but have modified our guidance to reflect softening lithium market pricing," Albemarle CEO Kent Masters said in a statement.
Huntsman (HUN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Albemarle (ALB) is likely to have benefited from higher lithium prices and volumes and its cost-reduction actions in the first quarter amid headwinds from higher input costs.
SANTIAGO (Reuters) -While Chile's plan to take control of its lithium industry has caused global shockwaves, state-led production of the metal used to make electric vehicle batteries is seen by analysts as likely years away given technical and political challenges. President Gabriel Boric last week said he would move to gradually nationalize the country's lithium industry, which holds the world's largest reserves of the metal, in a bid to boost Chile's economy. The plan relies on negotiations with lithium producers, public-private partnerships with technology companies, tense negotiations with political rivals, and the creation of a national lithium company, all of which could take years to accomplish, analysts said.
While softer demand in certain end markets is likely to be a drag, Albemarle (ALB), DuPont (DD), Axalta (AXTA) and LyondellBasell (LYB) are likely to have benefited from cost and pricing actions in Q1.
Albemarle (ALB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.