5 Largest Magnesium Producing Companies and Best Magnesium Stocks To Buy

2. Albemarle Corporation (NYSE:ALB)

Market Capitalization: $23.5 billion

Number of Hedge Fund Holders: 41

Value of Hedge Fund Holdings: $436,499,820

Albemarle Corporation (NYSE:ALB) is a Charlotte, North Carolina-based producer of specialty chemicals with a headcount of around 7,400 employees.

Albemarle Corporation (NYSE:ALB) is involved in making various magnesium compounds like magnesium hydroxide and magnesium oxide. These compounds have applications as flame retardants and smoke suppressants. Albemarle Corporation (NYSE:ALB) operates magnesium production facilities in the Netherlands, China, Israel and the US. The company’s largest magnesium operation is the Dead Sea Works plant in Israel. Albemarle Corporation (NYSE:ALB) uses brines from the Dead Sea as its main raw material source for magnesium compounds production, allowing it to produce magnesium relatively cheaply.

Here’s what Aristotle Capital Boston, LLC said about Albemarle Corporation (NYSE:ALB) in its Q2 2023 investor letter:

“Albemarle Corporation (NYSE:ALB), the world’s largest lithium producer was sold from the portfolio amidst the announcement from Chile’s president that he would nationalize the country’s lithium industry and in time transfer control from SQM and Albemarle to a separate state-owned company effectively changing long-term risk/reward ratio of the stock, in our view.”