10 Best Battery Stocks To Buy According To Analysts

5. Sigma Lithium Corp. (NASDAQ:SGML)

Analysts Upside Potential as of March 10: 55.79%

Number of Hedge Fund Holders In Q4 2024: 21

Brazilian conglomerate Sigma Lithium Corp. (NASDAQ:SGML) produces high-purity lithium for the EV battery supply chain. The company produces what it calls “Quintuple Zero Green Lithium” at its Grota do Cirilo property in Brazil. Other operations in Brazil include São José, Santa Clara, and Genipapo. The corporate headquarters are in São Paulo.

Sigma Lithium Corp. (NASDAQ:SGML) had the best year in 2024—it consistently exceeded production targets. At the end of the year, the company revealed that it had surpassed its fourth-quarter production target; it produced approximately 75,000 tons of Quintuple Zero Green Lithium. This strong operational performance would signal what was to come in 2025.

In late February 2025, the company said it was on track to double its production capacity this year. It had just commissioned its second Greentech industrial plant, expected to begin in Q4 2025. According to its guidance, production volumes are projected to reach 300,000 tons in 2025 and expand further to 520,000 tons in 2026. To fund this expansion, the company has secured a US$100 million development bank credit line from BNDES.

And the performance of Sigma Lithium Corp.’s (NASDAQ:SGML) share price indicates that the market is enthusiastic about what is happening. The stock has returned 4.63% year-to-date and 24.89% in the past six months (as of March 7, 2025). Analysts, too, share this enthusiasm—they project a 55.79% upside potential from the current price. The company deserves the top five spot in our list of the 10 best battery stocks to buy now.