5 Best Lithium and Battery Stocks to Buy According to Financial Media

3. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 24

Livent Corporation (NYSE:LTHM) manufactures and sells performance lithium compounds primarily used in lithium-based batteries, specialty polymers, and chemical synthesis applications. On November 29, investment advisory JPMorgan maintained a Neutral rating on Livent Corporation (NYSE:LTHM) stock and lowered the price target to $15 from $25. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Livent Corporation (NYSE:LTHM) with 82 million shares worth more than $180 million. 

In its Q3 2023 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Livent Corporation (NYSE:LTHM) was one of them. Here is what the fund said:

“Livent Corporation (NYSE:LTHM) is a pure-play, fully integrated producer of performance lithium compounds. The decline in lithium spot market prices, primarily in China, pressured shares. Despite this near-term headwind, the global lithium market remains tight in the long term. We believe Livent plays a critical role in the electric vehicle (EV) battery value-chain and is well-positioned for the overall growing global adoption of EVs. The company also remains on track to close its announced merger with an Australian-based peer by the end of the year. The combined company will benefit from enhanced operating flexibility and an increased global footprint.”