5 Best Lithium Stocks To Buy Now

4. Livent Corporation (NYSE:LTHM)

Number of Hedge Fund Holders: 32

Livent Corporation (NYSE:LTHM) specializes in the production and distribution of high-performance lithium compounds, primarily utilized in lithium-based batteries, specialty polymers, and chemical synthesis applications. The company was established in 1940 and is headquartered in Philadelphia, Pennsylvania. It is one of the best lithium stocks to invest in. 

On May 10, Livent Corporation (NYSE:LTHM) and Australian lithium miner Allkem announced a merger agreement in an all-stock transaction. This merger will establish a leading global producer of lithium chemicals with a total valuation of $10.6 billion. Under the deal, approximately 56% of the new company will be owned by Allkem shareholders, while Livent Corporation (NYSE:LTHM) shareholders will own the remaining portion. The companies anticipate annual operating synergies of approximately $125 million and one-time capital savings of around $200 million. These savings will be primarily derived from asset proximity and collaborative development efforts in Argentina and Canada.

According to Insider Monkey’s first quarter database, 32 hedge funds were bullish on Livent Corporation (NYSE:LTHM), compared to 29 funds in the prior quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP is a prominent stakeholder of the company, with 1 million shares worth $23 million. 

Carillon Eagle Small Cap Growth Fund made the following comment about Livent Corporation (NYSE:LTHM) in its Q4 2022 investor letter:

“Livent Corporation (NYSE:LTHM) is a pure-play, fully integrated producer of performance lithium compounds. The stock underperformed amid investor concerns about how a potential decelerating rate of growth in overall electric vehicle (EV) production and demand, primarily in China, would affect the future price of lithium. Despite these potential near-term headwinds, longer-term the global lithium market remains tight, and we believe Livent plays a critical role in the battery value chain and remains well- positioned for the overall continued global adoption of EVs.”