Lithium Stocks To Keep An Eye On - March 2nd

On March 2nd, investors are advised to keep an eye on seven notable lithium stocks. These stocks play a crucial role in the exploration, extraction, and production of lithium, which is essential for battery manufacturing used in electric vehicles and renewable energy solutions. The growing demand for cleaner energy resources has made these stocks increasingly attractive to investors, even as they navigate market volatility and changes in global supply and demand dynamics.

Exxon Mobil (XOM)

Exxon Mobil Corporation is actively engaged in exploring and producing crude oil and natural gas across the United States and other countries. Its operations are divided into various segments, including Upstream, Energy Products, Chemical Products, and Specialty Products. The Upstream segment focuses on the exploration and production of oil and gas.

On Friday, Exxon Mobil shares saw an increase of $1.18, reaching $111.33. The trading volume for the day was 18,815,935 shares, exceeding its average of 14,938,178 shares. Notably, the company has a market capitalization of $483.08 billion and a price-to-earnings (P/E) ratio of 14.20.

Albemarle (ALB)

Albemarle Corporation specializes in the development, manufacturing, and marketing of engineered specialty chemicals. It operates across three segments: Energy Storage, Specialties, and Ketjen. The Energy Storage segment is particularly significant as it offers a range of lithium compounds, crucial for battery applications.

On Friday, Albemarle's stock traded down by $1.94, closing at $77.03. The trading volume was 2,821,814 shares, above its average of 2,506,448 shares. The company has a market cap of $9.06 billion and a P/E ratio of -6.88.

Rio Tinto Group (RIO)

Rio Tinto Group operates in the mining and processing of mineral resources globally. Its various segments include Iron Ore, Aluminium, Copper, and Minerals. The Iron Ore segment is one of the leading players in the iron ore mining sector.

Rio Tinto's stock went down by $0.21 on Friday, closing at $60.51. The company traded 3,236,867 shares, matching its average volume of 3,208,554. It has a market cap of $75.82 billion and a P/E ratio of 9.38.

QuantumScape (QS)

QuantumScape Corporation focuses on the research and development of solid-state lithium-metal batteries aimed at electric vehicles and other applications. Based in San Jose, California, the company was established in 2010.

The company’s stock dropped by $0.12 on Friday, reaching $4.69. The trading volume was 19,857,758 shares, compared to the average of 15,495,463 shares. QuantumScape has a market cap of $2.40 billion, with a P/E ratio of -4.98.

Arcadium Lithium (ALTM)

Arcadium Lithium plc specializes in producing lithium chemical products across several regions, including Asia Pacific, North America, and Europe. They offer a range of battery-grade lithium products essential for various industrial applications.

On Friday, ALTM stock increased by $0.01, reaching $5.84. The stock’s trading volume was 14,457,086, lower than its average of 18,030,252 shares. The market cap for Arcadium Lithium stands at $6.28 billion, with a P/E ratio of 21.61.

Enovix (ENVX)

Enovix Corporation designs and manufactures lithium-ion batteries and serves sectors such as wearables, IoT, and electric vehicles. Established in 2007 and headquartered in Fremont, California, Enovix continues to make advancements in battery technology.

This stock saw a decrease of $0.12, closing at $8.92 on Friday, with a trading volume of 7,582,626 shares compared to its average of 7,068,572. Enovix has a market cap of $1.59 billion and a P/E ratio of -6.15.

SolarEdge Technologies (SEDG)

SolarEdge Technologies, Inc. focuses on designing and manufacturing optimized inverter systems for solar power installations around the globe. Its operations are split into Solar and Energy Storage segments.

The stock price for SolarEdge fell by $1.40 on Friday, arriving at $16.49 with a trading volume of 3,542,657 shares, below its average of 4,793,063. The market cap is approximately $955.60 million with a P/E ratio of -0.53.

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