5 Biggest Lithium Stocks to Invest In

2. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 27    

Albemarle Corporation (NYSE:ALB) develops, manufactures, and markets engineered specialty chemicals worldwide. On March 15, investment advisory Loop Capital maintained a Buy rating on Albemarle Corporation (NYSE:ALB) stock and lowered the price target to $162 from $168. 

At the end of the fourth quarter of 2023, 27 hedge funds in the database of Insider Monkey held stakes worth $311 million in Albemarle Corporation (NYSE:ALB), compared to 37 the preceding quarter worth $274 million.

In its Q4 2023 investor letter, The London Company, an asset management firm, highlighted a few stocks and Albemarle Corporation (NYSE:ALB) was one of them. Here is what the fund said:

“Albemarle Corporation (NYSE:ALB) – ALB underperformed as weak lithium prices drove downward revisions to earnings expectations, and sentiment became more negative regarding demand for electric vehicles. Commodity prices are inherently uncertain, but we continue to view ALB-as a winner in this growing industry and favorably positioned on the cost curve. Our long- term view of ALB is not affected by short-term supply- demand dynamics for the commodity.”