1. Albemarle Corporation (ALB)
Founded in 1994, the Albemarle Corporation emerged as one of the highest-performing lithium stocks of 2024. Headquartered in North Carolina, this American chemical company demonstrated exceptional proficiency in the lithium sector. Over the past year, Albemarle’s stock price observed a substantial increase of 35%, attributable to the booming EV market demanding higher lithium supplies. Albemarle has a distinctive advantage with its extensive lithium reserves, particularly in Chile’s Salar de Atacama, and a sustained commitment to research and development aimed at enhancing lithium production efficiency and sustainability.
2. Ganfeng Lithium Co., Ltd (GFL)
Ganfeng Lithium, a leading Chinese lithium compound producer, has sealed its position among the best-performing lithium stocks of 2024. The company achieved an astounding 45% year-over-year growth, reinforcing Guangdong-based Ganfeng’s sturdy financial position. The company’s well-crafted partnership with LG Chem to supply lithium components for EV batteries is a significant driver behind this growth. With China being one of the biggest lithium consumers, mainly due to its huge EV industry, the prospects for Ganfeng Lithium remain promising.
3. SQM Corporation (SQM)
SQM Corporation, a Chilean chemical company and a global leader in lithium production, witnessed a boost in its stocks by 30%. This increment is driven by SQM’s decision to expand its lithium carbonate production capacity, enabling it to meet the spiraling demand for lithium-ion batteries. This bold commercial move, coupled with SQM’s strategic advantage of being located in the lithium-rich Atacama desert, elevates its shares and overall investor confidence.
4. Lithium Americas Corp. (LAC)
Lithium Americas Corp., a Canadian-based lithium company, delivered a remarkable 40% growth in stock performance in 2024. This surge results from the company’s ambitious development works on Thacker Pass Lithium Project in Nevada, the largest known lithium resource in the United States. Once operational, the project is expected to significantly increase Lithium Americas’ production capacity, making it a worthy investment prospect for shareholders.
5. Livent Corporation (LTHM)
Livent Corporation, a Philadelphia-based lithium technology company, thrived in the stock market in 2024 with a soaring 33% rise. Known for producing high-purity, battery-grade lithium, Livent’s success is partly attributable to its exclusive contracts with various tech companies, including Tesla. As demand for high-quality lithium continues to rise, Livent’s innovative approach to lithium production positions it as a frontrunner in the global lithium market.
6. Orocobre Limited (ORL)
Lastly, Australia’s Orocobre Limited has cemented its spot among the best-performing lithium stocks of 2024. With a convincing 37% annual growth, this global mineral resource company’s accolade can be traced back to its fully integrated mine to market lithium business. Orocobre’s strategic collaboration with Toyota Tsusho Corporation gives it an inside track to the booming Asian lithium market, underscoring the company’s future-focused strategy and its successful execution, as evidenced by its impressive stock performance.
