In this article, we discuss the 5 biggest lithium stocks to invest in. If you want to read about some more lithium stocks, go directly to 10 Biggest Lithium Stocks to Invest In.
5. Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM)
Number of Hedge Fund Holders: 17
Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) produces and distributes specialty plant nutrients, iodine and derivatives, lithium and derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. On March 1, investment advisory BMO Capital maintained an Outperform rating on Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) stock and lowered the price target to $70 from $75.
At the end of the fourth quarter of 2023, 17 hedge funds in the database of Insider Monkey held stakes worth $139 million in Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM), compared to 24 in the preceding quarter worth $286 million.
4. Sigma Lithium Corporation (NASDAQ:SGML)
Number of Hedge Fund Holders: 18
Sigma Lithium Corporation (NASDAQ:SGML) engages in the exploration and development of lithium deposits. On January 23, investment advisory BMO Capital maintained an Outperform rating on Sigma Lithium Corporation (NASDAQ:SGML) stock and lowered the price target to $38 from $40.
At the end of the fourth quarter of 2023, 18 hedge funds in the database of Insider Monkey held stakes worth $209 million in Sigma Lithium Corporation (NASDAQ:SGML), compared to 15 in the preceding quarter worth $102 million.
3. QuantumScape Corporation (NYSE:QS)
Number of Hedge Fund Holders: 20
QuantumScape Corporation (NYSE:QS) focuses on the development and commercialization of solid-state lithium-metal batteries for electric vehicles and other applications. On February 15, investment advisory Baird maintained a Neutral rating on QuantumScape Corporation (NYSE:QS) stock and raised the price target to $8 from $5.
At the end of the fourth quarter of 2023, 20 hedge funds in the database of Insider Monkey held stakes worth $79 million in QuantumScape Corporation (NYSE:QS), the same as in the previous quarter worth $83 million.
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.”
1. Tesla, Inc. (NASDAQ:TSLA)
Number of Hedge Fund Holders: 82
Tesla, Inc. (NASDAQ:TSLA) is an automotive and clean energy company. On March 13, investment advisory Wedbush maintained an Outperform rating on Tesla, Inc. (NASDAQ:TSLA) stock with a price target of $315.
At the end of the fourth quarter of 2023, 82 hedge funds in the database of Insider Monkey held stakes worth $6.2 billion in Tesla, Inc. (NASDAQ:TSLA), compared to 81 in the previous quarter worth $5.8 billion.
Here is what Fred Alger Management has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2023 investor letter:
“Tesla, Inc. (NASDAQ:TSLA) is an electric vehicle manufacturer with a significant technological lead in its large and rapidly growing addressable market. Tesla is a transportation company that is setting the pace for industry innovation, in our view. During the quarter, the company reported weaker-than-expected fiscal third quarter earnings, where gross margins were negatively impacted by factory downtime and ramping production volumes at new manufacturing plants. However, the company noted that they remain confident by the amount of data that Tesla’s established and growing fleet of vehicles has gathered, which may bode well for the company’s full self-driving capabilities.”
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