10 Best Climate Change Stocks to Buy Now

7. Albemarle Corporation (NYSE:ALB)

Number of Hedge Fund Holders: 36

Albemarle Corporation (NYSE:ALB) is a global leader in specialty chemicals, primarily known for its production of lithium, bromine, and catalysts. The company’s lithium segment is integral to the energy storage market, supplying materials essential for electric vehicle (EV) batteries and renewable energy storage solutions.

In Q4 of 2024, Albemarle Corporation (NYSE:ALB) reported net sales of $1.2 billion and an adjusted EBITDA of $251 million. Despite these figures, the company faced challenges due to a significant decline in lithium prices, which dropped by 53%, impacting revenues in its Energy Storage division. Albemarle Corporation (NYSE:ALB) reported a total revenue of $5.38 billion in 2024, reflecting a 44.08% decline compared to the previous year. To navigate these market conditions, the company implemented cost-cutting measures, including workforce reductions and the suspension of certain expansion projects, aiming to save hundreds of millions of dollars.

In response to prolonged low lithium prices, Albemarle Corporation (NYSE:ALB) announced plans to mothball its Chengdu lithium hydroxide plant in China by mid-2025.

Analysts maintain a cautiously optimistic outlook for Albemarle. Some have assigned a “Hold” rating with a price objective of $88, suggesting a 13.30% potential upside from current levels.