iShares Lithium Miners and Producers ETF (NASDAQ: ILIT)

Latest news for iShares Lithium Miners and Producers ETF (NASDAQ:ILIT)

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The Fund seeks to track the investment results of the STOXX Global Lithium Miners and Producers Index (the Underlying Index), which has been developed by STOXX Ltd.. The Underlying Index is composed of U.S. and non-U.S. equity securities selected from the STOXX Global Lithium Universe Index (the Parent Index). The Parent Index is composed of large-, mid- and small-capitalization stocks from developed and emerging markets. The Underlying Index captures the performance of equity securities of companies involved in lithium ore mining and/or lithium compounds manufacturing.

Sociedad Quimica Y Minera De Chile S.A. (Adr)

Pilbara Minerals Limited

Arcadium Lithium Plc

Albemarle Corp.

Cosmoam&t Co Ltd

Sigma Lithium Corp

Ganfeng Lithium Group Co Ltd

iShares Lithium Miners and Producers ETF

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Performance in April 2024: Utilities lead, real estate lags. S&amp;P 500, Nasdaq 100, Dow Jones Industrial Average, small-cap and large-cap indices all decline.

April Showers On Wall Street:  Miners, Utilities Emerge As Bright Spots In Gloomy Market

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Piedmont Lithium receives approval for mining permit for proposed Carolina Lithium project in North Carolina, expected to create jobs and contribute to electrification economy.

Why Piedmont Lithium Shares Are Surging Today

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FMST

Foremost Lithium Resource &amp; Technology, a lithium exploration company, has begun drilling at its Snow Lake, Manitoba development in Canada.

Shovels Ready: Foremost Lithium Begins Drilling In Manitoba

Stephens &amp; Co. analyst Jim Salera maintains Wendy's (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NASDAQ">WEN</a>) with a Equal-Weight and lowers the price target from $20 to $19.

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Analyst Ratings

Stephens & Co. Maintains Equal-Weight on Wendy's, Lowers Price Target to $19

Citigroup analyst Atif Malik maintains Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a Buy and raises the price target from $210 to $255.

AAPL

Citigroup Maintains Buy on Apple, Raises Price Target to $255

Needham analyst Charles Shi reiterates Altair Engineering (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALTR#NASDAQ">ALTR</a>) with a Buy and maintains $100 price target.

Reiteration

ALTR

Needham Reiterates Buy on Altair Engineering, Maintains $100 Price Target

On Thursday, August 1st, U.S. stock markets closed lower due to data raising concerns about the economy slowing too rapidly amid the Federal Reserve&#8217;s restrictive monetary policy. Although early gains in Meta Platforms initially lifted stocks, worries over AI-related earnings and the outlook for megacap stocks have recently pressured the market.
In economic data, the ISM manufacturing PMI fell to 46.6 in July from 48.5 in June, below the expected 48.8. Construction spending decreased by 0.3% to an annual rate of $2,148 billion in June. Initial jobless claims rose by 14,000 to 249,000 for the week ending July 27th, exceeding the forecast of 236,000.
The S&amp;P 500&#8217;s sectors closed mixed, with utilities, real estate, and consumer staples leading gains, while information technology and energy stocks lagged.
The Dow Jones Industrial Average was down 1.21% and closed at 40,347.97. The S&amp;P 500 declined 1.37%, ending the day at 5,446.68, and the Nasdaq Composite slid 2.30%, finishing the session at 17,194.15.
Asian Markets Today
<ul>
<li>On Friday, Japan&#8217;s Nikkei 225 closed drastically lower by 5.73%, ending the session at 35,917.50, led by losses in the Shipbuilding, Real Estate, and Insurance sectors.</li>
<li>Japanese markets suffered after the BOJ&#8217;s hawkish stance, and a stronger yen impacted export-exposed stocks. Toyota fell 3.1% following slightly missed earnings and warnings of slowing demand.</li>
<li>Australia&#8217;s S&amp;P/ASX 200 declined 2.11%, ending the day at 7,943.20, led by losses in the Consumer Discretionary, A-REITs, and IT sectors.</li>
<li>India&#8217;s Nifty 50 slid 1.25% to 24,699.50, and Nifty 500 was down 1.11%, closing at 23,245.50.</li>
<li>China&#8217;s Shanghai Composite was down 0.92%, ending the session at 2,905.34, and the Shenzhen CSI declined 1.02%, closing at 3,384.39.</li>
<li>Hong Kong&#8217;s Hang Seng ended the session lower by 2.08% at 16,945.51.</li>
</ul>
Eurozone at 06:15 AM ET
<ul>
<li>The European STOXX 50 index declined 1.69%.</li>
<li>Germany&#8217;s DAX fell 1.52%.</li>
<li>France&#8217;s CAC was down 0.94%.</li>
<li>U.K.&#8217;s FTSE 100 traded lower by 0.61%.</li>
</ul>
Commodities at 06:15 AM ET
<ul>
<li>Crude Oil WTI was trading higher by 0.17% at $76.46/bbl, and Brent was up 0.18% at $79.66 bbl.</li>
<li>Natural Gas gained 0.91% to $1.986.</li>
<li>Gold was trading higher by 1.05% at $2,507.05, Silver rose 1.87% to $29.012, and Copper gained 0.90% to $4.1195.</li>
<li>Gold prices are rising due to safe-haven demand, expectations of U.S. Fed rate cuts in September, recent weak U.S. economic data, and fears of a retaliatory strike by Iran in the Middle East.</li>
</ul>
US Futures at 06:15 AM ET
Dow futures were down 0.91%, S&amp;P 500 futures fell 1.26%, and Nasdaq 100 Futures declined 1.90%.
Forex at 06:15 AM ET
The U.S. dollar index declined from 0.28% to 104.13%, the USD/JPY was down 0.38% at 148.80, and the USD/AUD slid from 0.10% to 1.5366.
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PowerShares DB US Dollar Index Bullish Fund

Japan Drags Asia Markets Lower, Europe Opens In Red As Gold Hits $2,500 On Safe-Haven Demand - Global Markets Today While US Slept

WIIM

SMFG

Sumitomo Mitsui Financial Group shares are trading lower after the company reported a year-over-year decrease in Q1 sales results.

Wedbush analyst Nick Setyan maintains Shake Shack (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHAK#NYSE">SHAK</a>) with a Neutral and raises the price target from $90 to $100.

SHAK

Wedbush Maintains Neutral on Shake Shack, Raises Price Target to $100

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) with a Neutral and maintains $25 price target.

SAGE

HC Wainwright & Co. Reiterates Neutral on Sage Therapeutics, Maintains $25 Price Target

Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has seen its stock prices more than double since the start of the year due to the boom in AI-related investments. However, experts warn of the cyclical nature of the semiconductor industry and potential slowdowns in the future.
What Happened: Chris Miller, a history professor at The Fletcher School at Tufts University, explained that the semiconductor sector has always experienced ups and downs, Business Insider <a href="https://www.businessinsider.com/watch-out-for-semiconductor-super-cycle-before-buying-nvidia-stock-2024-7">reported</a> on Friday. He highlighted that chip giants like Nvidia and Taiwan Semiconductor Manufacturing Co Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) have greatly benefited from the AI buildout, but this may not always be the case.
The concept of a semiconductor supercycle refers to sustained periods of growth and increased demand that can last several years.
&#8220;The boom in spending on AI infrastructure has been a major growth driver for the chip industry,&#8221; Miller said. 
&#8220;If excitement and investment in AI slow, chip industry growth will slow, too.&#8221; 
Despite the warnings, some believe it&#8217;s too early to declare a new supercycle. Thomas Rupf, chief investment officer at private bank VP Bank Asia, and Josie Ananto, a principal at EY-Parthenon&#8217;s strategy and transactions team, both see persistent demand and investment opportunities in the sector.
See Also: <a href="https://www.benzinga.com/news/24/07/40061358/satya-nadella-says-microsofts-copilot-drives-40-of-githubs-revenue-growth-we-are-also-enabling-anyon?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Satya Nadella Says Microsoft&#8217;s Copilot Drives 40% Of GitHub&#8217;s Revenue Growth: We Are Also &#8216;Enabling Anyone To Use Natural Language To Create Apps…&#8217;</a>
However, the success of Nvidia has attracted competition from big tech players like Meta (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) and Google by Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>), and startups like Groq. This could pose a threat to Nvidia, which designs but doesn&#8217;t manufacture its own chips.
Despite the competition, Nvidia is not standing still. In May, Nvidia CEO Jensen Huang announced the company would release new chips on a &#8220;one-year rhythm&#8221; instead of its traditional two-year release cycle.
Why It Matters: Nvidia&#8217;s stock valuation saw<a href="https://www.benzinga.com/24/08/40104317/nvidias-stock-leaps-almost-13-to-new-record-highs-with-a-record-330-billion-surge"> a significant jump</a>, adding an impressive $330 billion to its market cap in just one day. This surge broke its previous record of a $277 billion gain, driven by Microsoft&#8217;s recent announcement of a significant rise in its AI-related spending for the fiscal year 2024, which is set to grow by 60% to $69 billion. This news led to a nearly 13% rise in Nvidia&#8217;s stock price, bringing its market capitalization to a remarkable $2.88 trillion. As a result, Nvidia has become the third-most valuable company in the world, behind only Apple and Microsoft.
However, the semiconductor<a href="https://www.benzinga.com/etfs/sector-etfs/24/07/40047835/dell-nvidia-amd-stocks-tumble-as-semiconductor-rally-stalls"> rally has faltered </a>in the second half of the year. The Invesco QQQ Trust Series QQQ, a fund that tracks the NASDAQ 100, is down more than 5% throughout the last month. In the last month, Dell&#8217;s stock is down 25%, Nvidia&#8217;s more than 15%, while AMD is down around 13%.
Nvidia Corp has unveiled significant <a href="https://www.benzinga.com/news/24/07/40038962/nvidia-drives-value-with-ai-and-robotics-software-services">updates to its software suite,</a> aiming to streamline the integration of generative artificial intelligence for various businesses. The new releases include what Nvidia calls NIMs, or Nvidia inference microservices, designed to handle the logistical challenges of deploying AI technologies such as chatbots and voice recognition.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/08/40116376/apple-q3-earnings-beat-expectations-tim-cook-highlights-breakthrough-ai-platform-installed-base-of-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple Q3 Earnings Beat Expectations, Tim Cook Highlights &#8216;Breakthrough&#8217; AI Platform: Installed Base Of Devices Hits All-Time High, But China Revenue Falls&nbsp;</a></li>
</ul>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Pooja-Rajkumari" target="_blank" rel="noreferrer noopener">Pooja Rajkumari</a>

GOOG

GOOGL

NVDA

Amid Nvidia And Other Chip Stock Surge, Expert Warns 'If Excitement And Investment In AI Slow, Chip Industry Growth Will Slow Too'

Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) CEO Andy Jassy on Thursday stated that the company&#8217;s streaming service, Prime Video, will have &#8220;meaningfully fewer ads&#8221; than its competitors.
What Happened: During <a href="https://www.benzinga.com/news/earnings/24/08/40114662/amazon-q2-earnings-highlights-revenue-miss-eps-beat-q3-guidance-and-more">Amazon&#8217;s second-quarter earnings</a> call, Jassy highlighted that while advertising is a standard part of streaming video, they plan to diverge from this norm.
&#8220;While ads have become a norm of streaming video, we aim to have meaningfully fewer ads than linear TV and other streaming TV providers,&#8221; he said.
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/07/40031960/microsofts-windows-reportedly-warns-users-to-backup-their-data-in-the-cloud-to-have-peace-of-mind-bu?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft&#8217;s Windows Reportedly Warns Users To Backup Their Data In The Cloud To Have &#8216;Peace Of Mind&#8217; — But At What Price?</a>
The company&#8217;s ad tech and measurement capabilities allow brands to directly connect their advertising to business outcomes, such as&nbsp;product sales or subscription sign-ups.
This approach, Jassy believes, will enhance&nbsp;the relevance and performance of&nbsp;ads on Prime Video. For customers who prefer an ad-free experience, Amazon offers this&nbsp;option for an additional $2.99&nbsp;per month. 
Amazon CFO, Brian T Olsavsky, also spoke about how advertising remains a significant contributor to profitability in both the North American and international segments.
He also noted the company&#8217;s plans to expand its offerings in areas driving growth, including sponsored products and Prime Video ads.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Amazon&#8217;s decision to reduce ads on Prime Video comes <a href="https://www.benzinga.com/news/24/07/40042764/amazon-challenges-netflix-with-cheaper-ad-slots-boosts-prime-video-ads-report?comments_open=true">after the company&nbsp;undercut</a> Netflix Inc. on advertising pricing to attract marketers&#8217; attention. 
The e-commerce giant introduced advertising to its Prime Video platform five months ago and has been presenting its plans to advertisers to attract money for the next year.
The introduction of an ad-supported version of Prime Video&nbsp;<a href="https://www.benzinga.com/general/entertainment/24/06/39330119/how-amazon-prime-videos-ad-supported-version-reportedly-disrupted-netflix-youtube-and-tv-ne">disrupted the streaming ad market</a>, causing a significant decrease in ad prices for everyone, including Netflix, YouTube, and TV networks. 
This move impacted the negotiations these platforms are having with advertisers for the upcoming TV season.
Meanwhile, on Thursday, Amazon announced second-quarter net sales of $148 billion, a 10% increase year-over-year, but fell short of the Street consensus estimate of $148.56 billion, according to data&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent080124&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">from Benzinga Pro.</a>
Price Action: At the time of writing, Amazon shares had fallen 8.15% to $169.06 during the pre-market trading session, after closing at $184.07 on Thursday, down by 1.56%.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/40027527/mark-zuckerberg-gets-triggered-by-closed-ai-models-at-siggraph-2024-drops-f-bomb-while-talking-with?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Mark Zuckerberg Gets Triggered By Closed AI Models At SIGGRAPH 2024, Drops F-Bomb While Talking With Nvidia CEO Jensen Huang: ‘There Goes Our Broadcast Opportunity'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Thibault Penin on Unsplash

Entertainment

AMZN

Amazon CEO Says While Ads Have Become A Norm, Prime Video Intends To Have 'Meaningfully Fewer Ads' Than Netflix, YouTube, Disney+, And Others

Barclays analyst Tim Long maintains Apple (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a Underweight and lowers the price target from $187 to $186.

Barclays Maintains Underweight on Apple, Lowers Price Target to $186

Needham analyst Quinn Bolton maintains MACOM Technology Solns (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSI#NASDAQ">MTSI</a>) with a Buy and raises the price target from $110 to $120.

MTSI

Needham Maintains Buy on MACOM Technology Solns, Raises Price Target to $120

Stifel analyst Mark Kelley maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Buy and lowers the price target from $228 to $224.

Stifel Maintains Buy on Amazon.com, Lowers Price Target to $224

PXDT

Pixie Dust Technologies Launched VUEVO Display, Which Provides A Window To Serve Global Customers With Real-time Subtitling And Translation In Over 100 Languages

These actions are expected to result in approximately $7 million in annual cash savings and enable the Company to achieve positive cash flow by the end of 2027 without additional financing.
The Company does not expect these actions to impact its 2024 revenue or gross margin outlook and plans to continue to invest in key initiatives that are expected to drive future revenue growth and gross margin improvement, including product development and cost reduction programs.
The Company expects to record a related charge of approximately $0.7 million in the third quarter of 2024.

Earnings

RPID

In July 2024, Rapid Micro Biosystems Completed An Enterprise-wide Review To Realize Operational Efficiencies, The Company Will Reduce Its Current Workforce, Close Open And Planned Positions, And Reduce Other Non-headcount-related Expenses Across The Business

Belle Fashion Group will oversee the distribution of Allbirds products across retail, online and wholesale channels and will allocate dedicated brand and marketing resources to the partnership.

BIRD

Allbirds Says Belle Fashion Appointed Its Exclusive Distributor And Licensee In Mainland China, Macau And Taiwan, Effective June 28

Piper Sandler analyst Thomas Champion maintains Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) with a Overweight and lowers the price target from $220 to $215.

Piper Sandler Maintains Overweight on Amazon.com, Lowers Price Target to $215

Barclays analyst Saket Kalia downgrades Procore Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCOR#NYSE">PCOR</a>) from Overweight to Equal-Weight and lowers the price target from $78 to $54.

Downgrades

PCOR

Barclays Downgrades Procore Technologies to Equal-Weight, Lowers Price Target to $54

Transaction with Permira
As announced on&nbsp;May 13, 2024, Squarespace entered into a definitive agreement to go private by Permira. In light of this transaction, Squarespace will not be hosting an earnings conference
Transaction with Permira
As announced on&nbsp;May 13, 2024, Squarespace entered into a definitive agreement to go private by Permira. In light of this transaction, Squarespace will not be hosting an earnings conference call or live webcast to discuss its&nbsp;second quarter&nbsp;2024 financial results and Squarespace will not be providing&nbsp;guidance&nbsp;for the&nbsp;third quarter&nbsp;and is suspending its financial&nbsp;guidance&nbsp;for the full fiscal year 2024.

Guidance

SQSP

Squarespace to Go Private with Permira, Suspends Earnings Calls and Guidance

LightInTheBox Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LITB#NYSE">LITB</a>) reported quarterly earnings of $0.01 per share. This is a 200 percent increase over losses of $(0.01) per share from the same period last year. The company reported $69.36 million in sales this quarter. This is a 63.83 percent decrease over sales of $191.77 million the same period last year.

LITB

LightInTheBox Holding Q2 EPS $0.01 Up From $(0.01) YoY, Sales $69.36M Down From $191.77M YoY

Rapid Micro Biosystems Reaffirms Its 2024 Total Revenue Guidance Of At Least $27M Compared To Consensus Of $27.066M And The Placement Of At Least 20 Systems; The Company Continues To Expect Gross Margin To Be Positive For Third And Fourth Quarters Of 2024

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<a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">Lithium stocks</a> have been a disaster with&nbsp;<a href="https://www.reuters.com/markets/commodities/lower-prices-oversupply-weigh-lithium-miners-2023-10-30/#:~:text=Lithium%20is%20a%20key%20metal,chain%2C%22%20BofA%20analysts%20said.">oversupply issues</a>&nbsp;and a&nbsp;<a href="https://abcnews.go.com/Business/electric-vehicle-sales-slowing-panic-insiders/story?id=105842727">drop-off in demand for electric vehicles</a>. But with prices this cheap, it may be time to get greedy with lithium stocks with millionaire potential. Especially if the Federal Reserve does cut rates.&nbsp;



Right now,&nbsp;<a href="https://qz.com/federal-reserve-fed-interest-rates-inflation-jerome-pow-1851224976#:~:text=The%20interview%20was%20recorded%20Thursday,to%20the%20central%20bank%27s%20target.">interest rates</a>&nbsp;are at a 22-year high of 5.4%,&nbsp;driving up borrowing costs.&nbsp;It&rsquo;s a big part of why electric vehicle sales are slowing. It&rsquo;s also why auto companies like&nbsp;General Motors&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/gm-stock-quote/">GM</a>) and&nbsp;Ford&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/f-stock-quote/">F</a>) are&nbsp;<a href="https://www.autonews.com/manufacturing/gm-ford-delay-some-ev-investments-citing-slowing-demand-growth">delaying electric vehicle rollouts</a>.&nbsp;



However, once the Federal Reserve does start cutting those rates, pent-up demand for such things should return. And with it, we should see higher lithium prices.&nbsp;



In addition,&nbsp;<a href="https://investorplace.com/2024/01/7-top-rated-lithium-stocks-wall-street-analysts-are-loving-now-january-2024/">as I noted on Jan. 21</a>, &ldquo;With some lithium mines shutting down or reducing production&nbsp;<a href="https://seekingalpha.com/article/4663102-top-10-lithium-companies-to-consider-potentially-approach-lithium-price-bottom">we could see less supply</a>. This could help stabilize prices and send lithium prices higher with demand.&rdquo;&nbsp;



That said, you may want to be well-positioned in lithium stocks with millionaire potential.



<h2>Albemarle (ALB)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>


After plunging from a high of about $331 to a low of $114.33, the industry&rsquo;s weakened 800 lb. gorilla, Albemarle&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>) is showing some signs of life. Plus, at 4x earnings, with a yield of 1.39%, you can get paid to wait for this cheap stock to recover.



To help, the company is&nbsp;<a href="https://www.streetinsider.com/Corporate+News/Albemarle+%28ALB%29+Announces+Cost-cutting+Efforts/22637878.html">reducing costs by $95 million a year</a>&nbsp;by cutting expenses and its workforce. According to a press release, the company will focus on permitting at the Kings Mountain spodumene resource and postpone spending.



Better, analysts at&nbsp;<a href="https://markets.businessinsider.com/news/stocks/rbc-capital-sticks-to-its-buy-rating-for-albemarle-alb-1033043428#:~:text=In%20a%20report%20released%20on,shares%20closed%20yesterday%20at%20%24115.05.">RBC Capital are maintaining a buy rating on ALB</a>, with a price target of $140. Also, it may not seem like it at the moment, but ALB is one of the top lithium stocks with millionaire potential.



<h2>Arcadium Lithium (ALTM)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium-300x169.jpg" alt="a lithium mine, ATLX stock"><div>Source: Shutterstock</div></div>


There&rsquo;s also&nbsp;Arcadium Lithium&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALTM#NYSE">ALTM</a>), the $4.94 billion company that combined Allkem and Livent to create one of the biggest lithium companies in the world. 



It&rsquo;s another cheap stock trading at $4.60, at 5x earnings, and with a price to earnings growth ratio of just 0.33. Helping,&nbsp;<a href="https://www.tipranks.com/news/blurbs/arcadium-lithium-plc-altm-receives-a-buy-from-loop-capital-markets">Loop Capital is maintaining a buy rating</a>&nbsp;on the stock with a price target of $9.



Arcadium Lithium is one of the largest global producers of lithium chemicals, with $1.9 billion in revenue and over 2,600 employees in 2022, according to the company website.



<h2>Sociedad Quimica y Minera (SQM)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/lithium-1600-300x169.png" alt="Lithium element on the periodic table. Top-rated lithium stocks"><div>Source: tunasalmon / Shutterstock</div></div>


Sociedad Quimica y Minera&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>) carries a current yield of 12.42%. At $40 a share, it&rsquo;s trading a 1.24x sales, which is far less than its five-year average of 4.54.&nbsp;



And, as expected, earnings haven&rsquo;t been great. In its most recent quarter,&nbsp;<a href="https://investorplace.com/2024/01/why-these-3-lithium-stocks-should-be-on-your-radar-in-2024/">SQM said revenue slipped 38% YOY to $1.84 billion</a>. Net income came in 56% lower year over year to $479.9 million, as EPS crumbled 56% to $1.68 year over year. However, it does appear that a good amount of negativity has been priced in.&nbsp;



Now, while we wait for lithium and SQM to recover, we can collect its dividend yield.



<h2>Piedmont Lithium (PLL)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>


We can also look at&nbsp;Piedmont Lithium&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>), another one of the top lithium stocks with millionaire potential.



We&rsquo;re still waiting to see if its North Carolina mine permit will be granted. If it is, the proposed mine could be significant. 



At the same time, it does now hold all permits for its project in Tennessee, where it expects to start construction soon. Piedmont also partnered with&nbsp;Vinland Lithium&nbsp;to advance a project in Newfoundland, Canada.&nbsp;



And it&rsquo;s also cutting capital spending this year and just reduced its workforce by 27%. It&rsquo;s targeting about $10 million in annual savings,&nbsp;<a href="https://seekingalpha.com/news/4063089-piedmont-lithium-completes-27-workforce-reduction-part-of-cost-cutting-plan">according to Seeking Alpha</a>.



<h2>Standard Lithium (SLI)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/sli1600-300x169.png" alt="Standard Lithium logo or icon on website page, Illustrative Editorial"><div>Source: Postmodern Studio / Shutterstock.com</div></div>


Standard Lithium&nbsp;(NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/sli-stock-quote/">SLI</a>) is another one to keep an eye on.



Remember, its East Texas exploration site had&nbsp;<a href="https://www.fool.com/investing/2023/10/11/why-standard-lithium-stock-jumped-today/">the highest-grade lithium brine in North America</a>. 



According to <a href="https://www.fool.com/investing/2023/10/11/why-standard-lithium-stock-jumped-today/">Motley Fool&rsquo;s&nbsp;Neha Chamaria</a>, high brine grades can lower DLE costs for Standard Lithium, which expects East Texas to be a major source of high-grade brine.







<h2>iShares Lithium Miners and Producers ETF (ILIT)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-300x169.jpg" alt="lithium (LI) on the periodic table. top performing lithium stocks"><div>Source: Shutterstock</div></div>


Or, you can always diversify with 44 lithium names that should recover at some point, with an exchange-traded fund such as the&nbsp;iShares Lithium Miners and Producers ETF&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/ilit-stock-quote/">ILIT</a>). 



With an expense ratio of 0.47%, the ETF tracks global lithium miners and producers.



In short, you&rsquo;re getting a piece of most of the stocks mentioned above plus 38 other lithium stocks for less than $13 a share.



<h2>Sprott Lithium Miners ETF (LITP)</h2>


<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600h-300x169.jpg" alt="rows of lithium ion batteries"><div>Source: Lightboxx/ShutterStock.com</div></div>


Or, look at the&nbsp;Sprott Lithium Miners ETF&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/litp-stock-quote/">LITP</a>). 



Once lithium prices recover, and they will, related stocks and ETFs like this one will push higher. 



With an expense ratio of 0.65%, this is the only pure-play U.S.-listed ETF focused on lithium mining, <a href="https://sprottetfs.com/litp-sprott-lithium-miners-etf/">as noted by SprottETFs.com</a>. 



On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/7-lithium-stocks-with-serious-potential-to-make-you-a-millionaire/">7 Lithium Stocks with Serious Potential to Make You a Millionaire</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Lithium Stocks with Serious Potential to Make You a Millionaire

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Crisis will turn into an opportunity for <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks.</a> That&rsquo;s because supply issues are only temporary. <a href="https://investorplace.com/2024/01/7-top-rated-lithium-stocks-wall-street-analysts-are-loving-now-january-2024/">And remember, as I noted on Jan. 21,</a> &ldquo;With some lithium mines shutting down or reducing production we could see less supply. This could help stabilize prices and send lithium prices higher with demand.&rdquo; 



Two, current lithium prices are not sustainable, as noted by Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>). In fact, <a href="https://www.mining.com/web/albemarle-lithium-prices-must-rise-to-meet-surging-demand/">according to the company,</a> prices will need to rise &ldquo;in order to trigger the supply investments needed to meet long-term demand growth,&rdquo; as quoted by Mining.com. &ldquo;Lithium suppliers around the world are reining in spending and, in some cases, production after demand for the key component in electric-vehicle batteries slowed just as new mines started up.&rdquo;



Three, we have to consider that some analysts forecast that &ldquo;lithium supply is expected to <a href="https://www.cnbc.com/2023/08/29/a-worldwide-lithium-shortage-could-come-as-soon-as-2025.html">enter a deficit relative to demand</a> by 2025.&rdquo;



Eventually, all will contribute to higher lithium prices, just as we&rsquo;ve seen with prior dips. That being said, investors may want to start loading up on beaten-down lithium stocks. They won&rsquo;t make you rich overnight, but once the lithium price boom returns, you&rsquo;ll wish you bought in.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>After finding strong support around $110, Albemarle is back up to $124.86.



From here, if it can break above resistance at its 100-day moving average, I&rsquo;d like to see it again challenge $140 in the near term. Helping, analysts at Loop Capital said ALB has room to run, with a price target of $162 and a Buy rating. 



<a href="https://www.fool.com/investing/2024/03/18/albemarle-stock-upside-wall-street-analyst/#:~:text=Trimming%20his%20previous%20price%20target,next%2012%20months%20or%20so.">Motley Fool contributor Scott Levine,</a> ALB&rsquo;s best days aren&rsquo;t behind it.




He wrote, &ldquo;The company has an impressive operating history that stretches back to 1887. In that time, it has surely encountered headwinds &mdash; and withstood them, increasing shareholder value over the long term. Over the past 20 years, for example, Albemarle&rsquo;s total return topped 1,000%, exceeding the S&amp;P 500&rsquo;s 576% total return over the same timeframe.&rdquo;




We also have to consider ALB is cheap at just 9.3x earnings. Better, analysts at <a href="https://markets.businessinsider.com/news/stocks/rbc-capital-sticks-to-its-buy-rating-for-albemarle-alb-1033043428#:~:text=In%20a%20report%20released%20on,shares%20closed%20yesterday%20at%20%24115.05.">RBC Capital are maintaining a Buy rating on ALB,</a> with a price target of $140. 



<h2>Sociedad Quimica y Minera de Chile (SQM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/sqm-stock-1-300x169.jpg" alt="Sociedad Quimica y Minera logo displayed on a mobile phone with the company's web page on it. SQM stock"><div>Source: madamF / Shutterstock.com</div></div>With a yield of 10.14%, Sociedad Quimica y Minera de Chile (NYSE:<a href="https://investorplace.com/stock-quotes/sqm-stock-quote/">SQM</a>) is showing signs of life.



After finding strong support at $40, SQM is now consolidating just under $50. From here, I&rsquo;d like to see it eventually retest its December high of $64. As we wait for that to happen, we can just sit back and collect its dividend. 



Unfortunately, earnings haven&rsquo;t been so hot. But that&rsquo;s to be expected with lower lithium prices. In its most <a href="https://seekingalpha.com/news/4073636-sociedad-quimica-y-minera-de-chile-gaap-eps-of-071-misses-by-037-revenue-of-131b-misses-by-50m">recent quarter,</a> SQM posted EPS of 71 cents, which missed by 37 cents. Revenues of $1.31 billion &mdash; down 58.1% year over year &mdash; missed by $50 million. But again, that really shouldn&rsquo;t come as a big surprise in the current climate. 



The good news is that most of the negativity has been priced into this stock. Better, analysts over at Loop Capital <a href="https://thefly.com/news.php?symbol=SQM">recently raised its price target</a> on SQM to $62, with a Hold rating.



<h2>Piedmont Lithium (PLL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/pll1600-300x169.png" alt="Person holding cellphone with logo of US mining company Piedmont Lithium Inc. (PLL) on screen in front of business webpage. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>We can also look at Piedmont Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/pll-stock-quote/">PLL</a>), another one of the top lithium stocks with big potential. Granted, its chart is a disaster, but don&rsquo;t write it off just yet.



We&rsquo;re still waiting to see if its North Carolina mine permit will be granted. If it is, the proposed mine could be significant. At the same time, it now holds all permits for its project in Tennessee, where it expects to start construction soon. Piedmont also partnered with Vinland Lithium to advance a project in Newfoundland, Canada. 



Helping, &ldquo;BMO Capital analyst Greg Jones initiated coverage of Piedmont Lithium with a Market Perform rating and $20 price target. Piedmont is developing an integrated lithium business with the objective of supplying the North American battery supply chain,&rdquo; <a href="https://thefly.com/news.php?symbol=PLL">according to TheFly.com.</a>



Should the company receive approval in North Carolina, I&rsquo;d like to see the PLL stock rally back to at least $30 a share.



<h2>Atlas Lithium (ATLX)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium-300x169.jpg" alt="a lithium mine, ATLX stock"><div>Source: Shutterstock</div></div>After diving from about $34 to about $12, Atlas Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/atlx-stock-quote/">ATLX</a>) is also showing some signs of life. For one, the company recently said it achieved full funding for its early revenue strategy to allow for the start of production later this year. 



Two, the company just said the <a href="https://www.atlas-lithium.com/news/atlas-lithium-progresses-with-dms-plant-construction-remains-on-schedule-for-q4-2024-production/">construction of its modular dense</a> media separation lithium processing plant remains on track for completion in Q2 2024. 



Three, as noted in ALTX press release, &ldquo;Atlas Lithium&rsquo;s plant progress bodes well for its goal to generate revenues by Q4 2024. As previously announced, Atlas Lithium has secured binding offtake agreements with key partners Chengxin and Yahua, who have committed $50 million for the right to purchase 80% of Phase 1 production capacity.&rdquo;



Better, its Brazilian operations are located in Brazil&rsquo;s Lithium Valley, which is considered to be a premier lithium jurisdiction. Plus, according to the Brazilian Geological Service (CPRM) &ldquo;the region has at least 45 lithium deposits,&rdquo; <a href="https://www.atlas-lithium.com/wp-content/uploads/2024/03/March-Corporate-Overview.pdf">as noted in ATLX&rsquo;s corporate deck.</a>



<h2>iShares Lithium Miners and Producers ETF (ILIT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>We can also take a look at exchange-traded funds (ETFs), which offer a good deal of diversification at a lower cost. The iShares Lithium Miners and Producers ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/ilit-stock-quote/">ILIT</a>), for example, trades at just over $14 a share and offers exposure to 45 lithium stocks.



In fact, with an expense ratio of 0.47%, the ILIT ETF offers exposure &ldquo;to global lithium miners and producers who could stand to benefit from an increased demand for this limited resource,&rdquo; <a href="https://www.ishares.com/us/products/332281/ishares-lithium-miners-and-producers-etf">noted iShares.</a> Some of its top holdings include Sociedad Quimica y Minera de Chile, Albemarle, Pilbara Minerals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pilbf-stock-quote/">PILBF</a>), Arcadium Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/">ALTM</a>) and Lithium Americas (NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>) &mdash; to name a few.



What&rsquo;s nice about the ILIT ETF is that we can buy 100 shares of it for about $1,400. If I were to buy 100 shares of just one of its 45 holdings &mdash; let&rsquo;s use ALB &mdash; it would cost me over $12,400. I&rsquo;d rather pay less and have greater exposure.



<h2>Global X Lithium &amp; Battery ETF (LIT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/lithium1600-300x169.jpg" alt="lithium (LI) on the periodic table. top performing lithium stocks"><div>Source: Shutterstock</div></div>After bottoming out around $40, the Global X Lithium &amp; Battery ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/lit-stock-quote/">LIT</a>) has since rallied to $46, where it&rsquo;s consolidating. From here, I&rsquo;d like to see it break higher with a test of $52 in the near term.



With an expense ratio of 0.75%, the LIT ETF invests in the full lithium cycle, from mining and refining the metal through battery production, says GlobalXETFs. It also has about 40 holdings, including Albemarle, Pilbara Minerals and Panasonic Holdings (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>) &mdash; to name a few.



The last time lithium prices fell on supply-demand issues around 2018, the LIT ETF plunged from about $37 to a low of $19.20. As lithium showed signs of life and demand skyrocketed with the electric vehicle boom, the LIT ETF ran to a high of nearly $93. 



The moment we see the next recovery in lithium, as supply fails to meet demand, I&rsquo;d like to see the LIT ETF again challenge that high.



<h2>Amplify Lithium &amp; Battery Technology ETF (BATT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600e-300x169.jpg" alt="a lithium ion battery"><div>Source: Olivier Le Moal/ShutterStock.com</div></div>With an expense ratio of 0.59%, the Amplify Lithium &amp; Battery Technology ETF (NYSEARCA:<a href="https://investorplace.com/stock-quotes/batt-stock-quote/">BATT</a>) provides exposure to global companies that develop, produce and use lithium battery technology &mdash; all for less than $10 a share. BATT ETF has 89 holdings, including Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>), Albemarle, Sociedad Quimica and Panasonic.



After sliding from about $13.50 to a low of $8.56 the BATT ETF is starting to pivot higher from oversold conditions. It last traded at $9.45. I&rsquo;d like to see the ETF retest $10.59 initially.



It is another hot ETF that could double, even triple, when lithium prices and related stocks start to push well off their low. While simplistic to say, it&rsquo;s only a matter of time before lithium recovers and takes the BATT ETF along for the ride.



On the date of publication, Ian Cooper did not hold (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines.</a>
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/7-lithium-stocks-ready-for-a-major-comeback/">7 Lithium Stocks Ready for a Major Comeback</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

7 Lithium Stocks Ready for a Major Comeback

iShares Lithium Miners and Producers ETF declares semi-annual distribution of $0.0775

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
With accelerating demand for all things green, lithium prices may be bottoming out, creating opportunities for oversold <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a>. According to Pilbara Minerals (OTCMKTS:<a href="https://investorplace.com/stock-quotes/pilbf-stock-quote/">PILBF</a>) CEO Dale Henderson, &ldquo;doomsday headlines don&rsquo;t reconcile with the broadly strong growth market,&rdquo; <a href="https://www.mining.com/web/pilbara-minerals-signals-higher-production-for-fiscal-2025/#:~:text=Broadly%2C%20some%20%E2%80%9Cdoomsday%20headlines%20don,%E2%80%9D%20for%20consumption%2C%20he%20added.">as quoted by Mining.com</a>. &ldquo;Lithium demand from energy storage systems, such as those that back up solar arrays, is growing fast from a low base, and has the potential to be a sleeping giant for consumption.&rdquo;



That, coupled with growing demand for electric vehicles will send lithium prices higher. According to Cox Automotive, U.S. EV sales were up <a href="https://www.coxautoinc.com/market-insights/q2-2024-ev-sales/#:~:text=Electric%20vehicle%20sales%20in%20the,and%20elevated%20levels%20of%20leasing.">11.3% year-over-year</a> in the second quarter, reaching 330,463. Also, as I noted the other day, &ldquo;Those numbers will only improve moving forward, which will only increase the need for more lithium.&rdquo;



That being said, investors should jump on, but not out lithium stocks on dips.



<h2>Albemarle (ALB)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/alb1600a-300x169.jpg" alt="Albemarle (ALB) logo on a mobile phone screen"><div>Source: IgorGolovniov/Shutterstock.com</div></div>The pullback in Albemarle (NYSE:<a href="https://investorplace.com/stock-quotes/alb-stock-quote/">ALB</a>) is overdone. In fact, at $90.88, it&rsquo;s actually a steal.&nbsp; While firms like HSBC, Citi, Baird and Wells Fargo are bearish on the stock, and while we don&rsquo;t expect great second-quarter earnings on July 31, it&rsquo;s safe to say the negativity has been priced in. Plus, while we wait for the eventual recovery, we can at least collect its 1.78% yield.&nbsp;



Helping, <a href="https://www.tipranks.com/stocks/alb/forecast">seven analysts rate the stock a buy</a>, with an average price target of $126.65. The highest price target is $190 at the moment. For me, from its current oversold price of $90.88, I&rsquo;d like to see it initially retest $140, with patience.&nbsp;



We also have to remember that if the Federal Reserve does cut interest rates, it could strengthen EV demand. All of which would strengthen the need for more lithium. In addition, the International Energy Agency still believes demand will soon outstrip supply.



<h2>Lithium Americas (LAC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/lithium-americas-lac-1600-300x169.jpg" alt="smartphone with logo of Canadian company Lithium Americas Corp on screen"><div>Source: Wirestock Creators / Shutterstock.com</div></div>Weakness in Lithium Americas (NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>) is also a buying opportunity. At $2.66, LAC is also a steal, especially with Thacker Pass construction expected this year.&nbsp;



<a href="https://lithiumamericas.com/news/news-details/2024/Lithium-Americas-Reports-First-Quarter-2024-Results/default.aspx">As noted company CEO Jonathan Evans</a>, &ldquo;Thacker Pass is now the only large-scale integrated battery-quality lithium carbonate project in North America with a clear path to production. We have all construction permits in hand and our construction financing and execution readiness are substantially de-risked. We continue to advance detailed engineering and project planning ahead of making the final investment decision, which we expect to do later this year.&rdquo;



That, coupled with stronger demand for all things green should be a powerful catalyst for LAC moving forward.&nbsp;&nbsp;That being said, I&rsquo;d buy the excessive weakness in the LAC stock today and just wait out the chaos.



As <a href="https://www.philanthropyroundtable.org/hall-of-fame/john-templeton/">Sir John Templeton has said</a>,&nbsp;&ldquo;The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.&rdquo;



<h2>iShares Lithium Miners and Producers ETF (ILIT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/lithium1600d-300x169.jpg" alt="Graphic of Lithium scientific symbol (Li) in the shape of a big white gear with construction equipment and mountain around it. favorite Lithium stocks"><div>Source: GrAl / Shutterstock.com</div></div>Or, if you want to diversify with top lithium names, there&rsquo;s the iShares Lithium Miners and Producers ETF (NASDAQ:<a href="https://investorplace.com/stock-quotes/ilit-stock-quote/">ILIT</a>).



The ETF invests in 44 lithium miners and producers with an expense ratio of 0.47%. That includes Arcadium Lithium (NYSE:<a href="https://investorplace.com/stock-quotes/altm-stock-quote/">ALTM</a>), Pilbara Minerals, Albemarle, Lithium Americas, and Sigma Lithium (NASDAQ:<a href="https://investorplace.com/stock-quotes/sgml-stock-quote/">SGML</a>).



While its chart is just as ugly as most lithium stocks, it&rsquo;s also a buy on excessive weakness. With EV sales gaining momentum with potential rate cuts, and demand for all things green, ETFs like the ILIT ETF could explode.



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.



On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/07/3-lithium-stocks-to-buy-on-the-dip-july-2024/">3 Lithium Stocks to Buy on the Dip: July 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Lithium Stocks to Buy on the Dip: July 2024

ALTM

ALTX

BATT

LITP

PCRFY

PILBF

SGML

TSLA

As April comes to a close, it&#8217;s time to compile the rankings for the top-performing sector and industry exchange-traded <a href="https://www.benzinga.com/etfs">funds of the month.</a>



Taking a broader look at the stock market, the S&amp;P 500 Index, represented by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), finished April on a downturn, declining by approximately 3%. This marks the end of a five-month streak of gains.



Similarly, the tech-heavy Nasdaq 100, tracked by the Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), experienced a 3.5% decline.



Among large-cap indices, blue-chip stocks showed slight underperformance, with the SPDR Dow Jones Industrial Average ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) slipping by 4.5%.



Small-cap stocks, represented by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), plummeted by over 6%, marking their worst performance since October 2023.



Overall, it has been a challenging month for the stock market, primarily due to inflation surprises surpassing expectations. This has led to a recalibration of market expectations regarding potential Federal Reserve rate cuts.



Additionally, complex global geopolitical tensions have emerged, notably between Israel and Iran, alongside the ongoing issue in the Gaza Strip.



May is anticipated to start with a crucial event as investors await the Federal Reserve Open Market Committee <a href="https://www.benzinga.com/general/macro-notification/24/04/38526201/is-hawkish-shift-on-inflation-imminent-wall-street-analysts-traders-brace-for-fed-impa">(FOMC) meeting on Wednesday. </a>



While no interest rate changes are expected, all eyes will be on Fed Chair Jerome Powell&#8216;s remarks to assess the Fed&#8217;s stance in response to recent inflation surprises.



Read also: <a href="https://www.benzinga.com/general/macro-notification/24/04/38491988/federal-reserve-meeting-preview-high-interest-rates-need-more-time-to-work-bank-of-ame">Federal Reserve Meeting Preview: High Interest Rates &#8216;Need More Time To Work,&#8217; Bank of America Says</a>



<h2 class="wp-block-heading">Performance Of Sector ETFs In April 2024</h2>



At the sector level, only the utilities sector managed to avoid losses for the month, rising by 2.1%.



The largest stock contributors to the utilities&#8217; performance in April are NextEra Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), The Southern Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SO#NYSE">SO</a>), Dominion Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/D#NYSE">D</a>) and NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>) which showed monthly gains between 4% and 8%. 



Energy stocks remained broadly stable, while the other nine S&amp;P 500&#8217;s sectors showcased losses.



Real estate experienced the worst performance, down by over 7%, dragged down by its high sensitivity to interest rates, as Treasury yields increase across the board during the month. 



Following real estate, the technology and healthcare sectors also showed poor performance in April.



<h4 class="wp-block-heading">April&#8217;s Best And Worst Sector ETFs: Utilities Lead, Real Estate Lags</h4>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Sector</th><th>April 2024 performance</th></tr></thead><tbody><tr><td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td><td>2.06%</td></tr><tr><td>Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td><td>0.01%</td></tr><tr><td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td><td>-1.11%</td></tr><tr><td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td><td>-3.23%</td></tr><tr><td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td><td>-3.68%</td></tr><tr><td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td><td>-3.85%</td></tr><tr><td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td><td>-4.13%</td></tr><tr><td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td><td>-4.24%</td></tr><tr><td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td><td>-4.78%</td></tr><tr><td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td><td>-4.85%</td></tr><tr><td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td><td>-7.83%</td></tr></tbody></table><figcaption class="wp-element-caption">Data as of Apr. 30, 2024 2:50 p.m. EDT</figcaption></figure>



<h2 class="wp-block-heading">Performance Of Industry ETFs In April 2024</h2>



Based on the industry ETF list provided by BlackRock Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>) iShares, only five out of the 25 industries managed to report gains in April. Among them, miners did well across the board, with silver, copper, and gold mining stocks reporting robust gains. 



Standout contributors to the mining industry&#8217;s outperformance in April were Pan American Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAAS#NYSE">PAAS</a>), up over 20%, Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), up 14%, Anglo American plc (OTCPK: AAUKF), up over 40%



Energy producers also managed to end the month in the green.



On the bottom side of the industry rankings, homebuilders, transportation, biotech stocks, digital infrastructure and real estate all report losses between 7% and 9.6% in April.



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>ETF Name</th><th>Performance</th></tr></thead><tbody><tr><td>iShares MSCI Global Silver and Metals Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLVP#NYSE">SLVP</a>)</td><td>12.11%</td></tr><tr><td>iShares Copper and Metals Mining ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COPX#NYSE">COPX</a>)</td><td>9.50%</td></tr><tr><td>iShares MSCI Global Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RING#NYSE">RING</a>)</td><td>5.93%</td></tr><tr><td>iShares MSCI Global Metals &amp; Mining Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PICK#NYSE">PICK</a>)</td><td>2.81%</td></tr><tr><td>iShares MSCI Global Energy Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FILL#NYSE">FILL</a>)</td><td>2.46%</td></tr><tr><td>iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>)</td><td>-1.16%</td></tr><tr><td>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>)</td><td>-1.37%</td></tr><tr><td>iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>)</td><td>-1.66%</td></tr><tr><td>iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>)</td><td>-3.30%</td></tr><tr><td>iShares U.S. Broker-Dealers &amp; Securities Exchange ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAI#NYSE">IAI</a>)</td><td>-3.74%</td></tr><tr><td>iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)</td><td>-3.88%</td></tr><tr><td>iShares Expanded Tech Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGM#NYSE">IGM</a>)</td><td>-4.37%</td></tr><tr><td>iShares Semiconductor ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NYSE">SOXX</a>)</td><td>-4.40%</td></tr><tr><td>iShares U.S. Healthcare Providers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHF#NYSE">IHF</a>)</td><td>-4.79%</td></tr><tr><td>iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>)</td><td>-4.85%</td></tr><tr><td>iShares U.S. Regional Banks ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAT#NYSE">IAT</a>)</td><td>-5.11%</td></tr><tr><td>iShares U.S. Pharmaceuticals ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHE#NYSE">IHE</a>)</td><td>-5.38%</td></tr><tr><td>iShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>)</td><td>-5.45%</td></tr><tr><td>iShares Mortgage Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REM#NYSE">REM</a>)</td><td>-5.57%</td></tr><tr><td>iShares U.S. Medical Devices ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHI#NYSE">IHI</a>)</td><td>-5.75%</td></tr><tr><td>iShares Global Timber &amp; Forestry ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WOOD#NYSE">WOOD</a>)</td><td>-6.20%</td></tr><tr><td>iShares Expanded Tech-Software Sector ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGV#NYSE">IGV</a>)</td><td>-6.76%</td></tr><tr><td>iShares U.S. Digital Infrastructure and Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDGT#NYSE">IDGT</a>)</td><td>-7.12%</td></tr><tr><td>iShares Biotechnology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBB#NYSE">IBB</a>)</td><td>-7.23%</td></tr><tr><td>iShares U.S. Transportation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYT#NYSE">IYT</a>)</td><td>-8.34%</td></tr><tr><td>iShares U.S. Home Construction ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITB#NYSE">ITB</a>)</td><td>-9.60%</td></tr></tbody></table><figcaption class="wp-element-caption">Data as of Apr. 30, 2024 3:15 p.m. EDT</figcaption></figure>



Now read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38497224/ai-data-centers-drive-electricity-demand-goldman-sachs-picks-16-stocks-to-play-the-">AI Data Centers Drive Electricity Demand: Goldman Sachs Picks 16 Stocks To Play The Trend</a>



Image generated using artificial intelligence via Midjourney.

Piedmont Lithium Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) shares are trading higher after it announced that it received mining permit approval for the construction, operation, and reclamation of the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38244622/piedmont-lithium-receives-mining-permit-approval-for-carolina-lithium" rel="noreferrer noopener">proposed Carolina Lithium project</a>.



In particular, the company disclosed that the North Carolina Department of Environmental Quality&#8217;s (NCDEQ) Division of Energy, Mineral, and Land Resources (DEMLR) issued an approval of the mining permit for the construction, operation, and reclamation of the proposed Carolina Lithium project in Gaston County, North Carolina.&nbsp;



The project is located within both the Carolina Tin-Spodumene Belt and the U.S. Battery Belt and is being designed as a fully integrated mining, spodumene concentrate, and lithium hydroxide manufacturing operation.&nbsp;



DEMLR provided the permit approval following a thorough review of the application submitted by Piedmont on August 30, 2021.&nbsp;



Keith Phillips, President and CEO, said, &#8220;We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain. The Project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina&#8217;s growing electrification economy.&#8221;



&#8220;Technical studies have demonstrated that Carolina Lithium could be a low-cost producer of spodumene concentrate and lithium hydroxide, benefitting from exceptional infrastructure, minimal transportation distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers as well as local markets for the monetization of by-product industrial minerals.&#8221;&nbsp;



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/23/08/33894288/piedmont-reveals-development-funding-for-ewoyaa-lithium-project" rel="noreferrer noopener">Piedmont Reveals Development Funding For Ewoyaa Lithium Project</a>



&#8220;The Project is further advantaged by the competitive corporate tax regime offered in the United States, the absence of significant royalties, and the benefits inherent in the Inflation Reduction Act of 2022.&#8221;



Investors can gain exposure to the stock via&nbsp;IShares Lithium Miners And Producers ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NASDAQ">ILIT</a>) and&nbsp;SPDR S&amp;P Metals &amp; Mining ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XME#NYSE">XME</a>).



Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/commodities/24/04/38173771/piedmont-advances-nal-operations-royal-gold-subsidiary-sells-49-500-geos-hecla-mining-reports" rel="noreferrer noopener">Piedmont Advances NAL Operations; Royal Gold Subsidiary Sells 49,500 GEOs; Hecla Mining Reports Q1 Production And More: Tuesday&#8217;s Top Mining Stories</a>



Price Action: PLL shares are up 21.8% at $15.45 on the last check Monday.



Photo via Shutterstock

Foremost Lithium Resource &amp; Technology Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FMST#NASDAQ">FMST</a>) has begun drilling at its Snow Lake, Manitoba <a href="https://www.benzinga.com/topic/lithium">development in Canada</a>.



Jason Barnard, president and CEO of Foremost Lithium, told Benzinga at the recent Prospectors And Developers Association of Canada (PDAC) conference in Toronto, that the company was awaiting approval on a C$10 million grant from the Canadian government&#8217;s Critical Mineral Infrastructure Fund (CMIF).



&#8220;The [CMIF] fund is to help onshore lithium production for the North American electric vehicle and battery supply chain,&#8221; said Barnard.



He added: &#8220;There&#8217;s a strong government initiative to help create that here in North America.&#8221;



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19124730/newplot-2024-03-19T164719.304.png" alt="" class="wp-image-257754" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19124730/newplot-2024-03-19T164719.304.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/19124730/newplot-2024-03-19T164719.304-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>



Also Read: <a href="https://www.benzinga.com/markets/esg/24/03/37788709/white-gold-rush-grapples-with-long-term-sustainability-implications-of-lithium-mining">&#8216;White Gold&#8217; Rush Grapples With Long-Term Sustainability: Implications Of Lithium Mining</a>



<h3 class="wp-block-heading">Direct Ship Ore Strategy </h3>



Canada has earmarked C$1.5 billion to support clean energy and transportation infrastructure projects. For example, Foremost is now looking to use the money to develop a road connecting Jean Lake and Zoro.



This will allow the transportation of equipment, goods and parts necessary to expand its operations. The road will also be used to transport ore to its Tanco mine where it is transformed into concentrate before shipping to customers. This is Foremost&#8217;s direct ship ore (DSO) strategy. 



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Mining Into The Heart Of EV Innovation &#x7C; Benzinga at PDAC 2024" width="500" height="281" src="https://www.youtube.com/embed/-HiTg6IyLbk?start=714&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
</div></figure>



Before becoming the company&#8217;s president and CEO, Barnard was a financier.



&#8220;I helped finance Foremost&#8217;s foray in to lithium — and I kept financing the company all the way to becoming the largest shareholder,&#8221; he said. 



&#8220;In the last year or so I became the president and CEO, in order to take more of a role in the company and so we could get listed on NASDAQ, which opens us up to a very large U.S. market,&#8221; he added.



<h2 class="wp-block-heading">Lithium Prices Tumble</h2>



Barnard said he hoped to hear back about the government grant in the next two or three months, but is very positive about process.



In the meantime, is he worried that lithium prices have been falling heavily? Indeed, since hitting a record close to $600,000 per metric ton in November 2022, lithium has fallen to $115,500. The iShares Lithium Miners and Producers ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ILIT#NYSE">ILIT</a>) is down 18% since the start of the year.



&#8220;Lithium prices have been depressed but because we&#8217;re dealing with the end users — electric vehicle and battery manufacturers, we still have time to build our reserves and our direct shipping ore strategy, so the short term ups and downs in commodity prices don&#8217;t particularly affect us,&#8221; Barnard said.



&#8220;I feel there&#8217;s a longer-term goal and cycle involved with lithium and all things EV-related, so the demand will carry on. 



&#8220;It&#8217;s just a short-term situation, but it doesn&#8217;t really affect our bottom line because we&#8217;re yet to be in production, we&#8217;re yet to produce revenues. We&#8217;re more in the grow-up reserves and build that asset in the ground phase..&#8221;



The production timeline, Barnard explained is well into 2025. In the mining and exploration business, that&#8217;s relatively short term. 



&#8220;That&#8217;s what sets us apart from other companies in terms of, they&#8217;ll drill that asset and then a major company will come and buy that asset off you, and they&#8217;ll deal with the revenue stream down the road.



&#8220;With us — we&#8217;re focused on profitability and revenue streams for our company.&#8221;



Now Read: <a href="https://www.benzinga.com/news/24/03/37623431/lithium-mining-causes-pollution-but-new-methods-could-showcase-more-eco-friendly-approach">Saudi Arabia's Lithium Involvement Could Showcase Environmentally-Friendly Extraction Methods</a>

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