5 Best Lithium Stocks To Buy Now

4. FMC Corporation (NYSE:FMC)

Number of Hedge Fund Holders: 30

Founded in 1883 in Philadelphia, Pennsylvania, FMC Corporation (NYSE:FMC) has evolved from its origins as an insecticide producer into a diversified chemical manufacturing enterprise. The company is renowned for its pioneering contributions to the development and production of alkyllithiums, aryllithiums, lithium amides, lithium alkoxides, and lithium metal hydrides. These compounds play a vital role as reducing agents in the synthesis of pharmaceutical and agricultural intermediates.

On October 16, Kevin McCarthy, an analyst at Vertical Research, upgraded FMC Corporation (NYSE:FMC)’s stock from Hold to Buy, setting a price target of $94. While expressing caution for the remainder of the current year, McCarthy anticipates a stabilization of market conditions in 2024.

By Q3 2023 end, 30 out of the 910 hedge funds profiled by Insider Monkey had bought and owned the firm’s shares. FMC Corporation (NYSE:FMC)’s largest hedge fund investor was Israel Englander’s Millennium Management due to its $108 million investment.