Lithium Stocks to Watch - March 2nd

Today, investors are keeping a close eye on seven notable lithium stocks: Exxon Mobil, Albemarle, Rio Tinto Group, QuantumScape, Arcadium Lithium, Enovix, and SolarEdge Technologies, as reported by MarketBeat's stock screener tool. These companies are involved in different aspects of the lithium industry, including exploration, extraction, and production. Lithium is essential for manufacturing batteries that power electric vehicles and support renewable energy storage. The increasing demand for clean energy solutions has attracted significant attention from investors, although these stocks can be affected by market fluctuations and global supply and demand outcomes.

Exxon Mobil (XOM)

Exxon Mobil Corporation focuses on exploring and producing crude oil as well as natural gas across the globe. This company operates in several segments: Upstream, Energy Products, Chemical Products, and Specialty Products. In its Upstream segment, it engages in the hunting for and production of crude oil and natural gas. Recently, shares increased by $1.18, reaching a trading price of $111.33, with over 18 million shares exchanged on that day—significantly higher than its average volume of about 14 million. Exxon Mobil maintains a quick ratio of 0.97, a current ratio of 1.31, and a debt-to-equity ratio of 0.14. Over the last year, it saw a low of $104.03 and a high of $126.34, with a market capitalization of $483.08 billion and a price-to-earnings ratio of 14.20.

Albemarle (ALB)

Albemarle Corporation is known for developing, manufacturing, and marketing specialized chemicals worldwide. It has three segments: Energy Storage, Specialties, and Ketjen. The Energy Storage segment provides various lithium compounds, including lithium carbonate and hydroxide, along with technical services and recycling of lithium-containing by-products. Recently, Albemarle shares decreased by $1.94 to $77.03, with over 2.8 million shares traded. The company's quick ratio is 1.19, and it carries a current ratio of 1.95, with a debt-to-equity ratio of 0.39. In the past year, the stock has fluctuated between a low of $71.97 and a high of $143.19, giving it a market capitalization of $9.06 billion.

Rio Tinto Group (RIO)

Rio Tinto Group operates in mining, exploring, and processing mineral resources worldwide, with segments focusing on Iron Ore, Aluminum, Copper, and other minerals. Its Iron Ore segment is involved in mining iron ore and producing salt and gypsum in Western Australia. Recently, the stock fell by $0.21, trading at $60.51 with more than 3.2 million shares exchanged. The company has a quick ratio of 1.16, a current ratio of 1.63, and a relatively low debt-to-equity ratio of 0.23. Over the past year, Rio Tinto reached a low of $57.85 and a high of $74.24, and its market capitalization stands at $75.82 billion with a price-to-earnings ratio of 9.38.

QuantumScape (QS)

QuantumScape Corporation is in the research and development phase, primarily focusing on solid-state lithium-metal batteries for electric vehicles. Founded in 2010, the company is headquartered in San Jose, California. Recently, QuantumScape shares dropped by $0.12, trading at $4.69 with nearly 20 million shares exchanged. The company's financial ratios show a quick ratio of 14.07 and a debt-to-equity ratio of 0.03. Within the last year, its stock fluctuated between $4.58 and $9.52, currently achieving a market capitalization of approximately $2.40 billion.

Arcadium Lithium (ALTM)

Arcadium Lithium plc specializes in producing lithium chemicals across multiple regions, including Asia Pacific, North America, and Europe. Their offerings include battery-grade lithium hydroxide and lithium carbonate, among others. Recently, ALTM shares increased by $0.01 to hit $5.84, exchanging around 14.4 million shares. The company's stock has a 50-day moving average price of $5.62, showcasing a market capitalization of $6.28 billion with a price-to-earnings ratio of 21.61.

Enovix (ENVX)

Enovix Corporation designs and manufactures lithium-ion batteries, catering to industries such as wearables, smartphones, and electric vehicles. Founded in 2007 and based in Fremont, California, the company’s shares decreased by $0.12, reaching $8.92 with around 7.6 million shares traded. Enovix holds a current ratio of 3.77 and a market capitalization of approximately $1.59 billion, with prices ranging from $5.70 to $18.68 over the past year.

SolarEdge Technologies (SEDG)

SolarEdge Technologies, Inc. engages in designing and manufacturing optimized inverter systems for solar photovoltaic installations globally. It comprises two segments: Solar and Energy Storage. Recently, SEDG shares fell by $1.40 to $16.49 with over 3.5 million shares exchanged. With a market cap of about $955.60 million, SolarEdge has a price-to-earnings ratio of -0.53.

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