Dividend Kings and Aristocrats List: 32 Biggest Stocks

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23. Albemarle Corporation (NYSE:ALB)

Market Cap as of March 24: $20.8 Billion

On March 6, Truist analyst Peter Osterland reiterated a Buy rating on Albemarle Corporation (NYSE:ALB). The firm maintained a $210 price target following the company’s non-deal roadshow. The analyst said recent momentum in lithium pricing looks sustainable. Demand, especially from EVs and grid storage, is expected to grow faster than supply in the near to medium term. Truist also noted that the company is likely to maintain discipline around costs and capital spending in the near term.

Later, on March 25, Albemarle said it had begun the environmental review process in Chile for its first Direct Lithium Extraction (DLE) project. The company said the project is designed to nearly double lithium recovery while reducing brine extraction. It added that full development could require about $3.1 billion in investment and is expected to operate through 2045.

Albemarle said the project is intended to improve efficiency and sustainability at the Salar de Atacama. Plans include a DLE plant with up to six processing trains, along with supporting infrastructure such as a power transmission line. The company also indicated that brine extraction could fall significantly, from 442 liters per second to as low as 142 liters per second at full capacity. At the same time, it acknowledged concerns in the region. Local communities have raised questions about the impact of mining on limited water resources.

Albemarle Corporation (NYSE:ALB) focuses on turning essential resources into key materials used in mobility, energy, connectivity, and health.

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