Lithium Stocks List: 5 Biggest Lithium Stocks

In this article, we will discuss the 5 biggest lithium battery stocks. If you want to explore similar stocks within the lithium industry, you can also take a look at Lithium Stocks List: 15 Biggest Lithium Stocks.

5. Enovix Corporation (NASDAQ:ENVX)

Number Of Hedge Fund Holders: 30

Enovix Corporation (NASDAQ:ENVX) is a leader in advanced silicon-anode lithium-ion battery development and production. The company’s proprietary 3D cell architecture increases energy density and maintains high cycle life. Enovix Corporation (NASDAQ:ENVX) is ranked among the biggest lithium stocks.

B. Riley analyst Christopher Souther initiated coverage of Enovix Corporation (NASDAQ:ENVX) with a Buy rating and $19 price target. According to Souther, the company’s advanced technology in lithium-ion batteries “will carve out significant share by 2025.” He adds that silicon anode cells “promise to dominate mobile communications,” and Enovix is in an early stage of commercialization, with initial cells already shipping to customers.

At the close of Q3 2022, 30 hedge funds were long Enovix Corporation (NASDAQ:ENVX) and held stakes worth $486.6 million in the company. This is compared to 23 positions in the previous quarter with stakes worth $273 million. As of the third quarter, Park West Asset Management is the largest investor in Enovix Corporation (NASDAQ:ENVX) and has a stake worth $166.7 million in the company.

4. Livent Corporation (NYSE:LTHM)

Number Of Hedge Fund Holders: 31 

Livent Corporation (NYSE:LTHM), a fully integrated lithium company, manufactures lithium for use in a range of lithium products, which are used primarily in lithium-based batteries, specialty polymers and chemical synthesis applications.

Earlier this October, B. Riley analyst Matthew Key assumed coverage of Livent Corporation (NYSE:LTHM) with a Neutral rating and price target of $32, up from $30. Key argues that lithium has been the best-performing commodity since the start of 2021 and the strong outlook for electric vehicle sales will support robust pricing over the near term. However, due to a healthy pipeline of lithium growth projects, the analyst expects gradual declines in pricing as supply/demand approaches equilibrium by the end of 2025.

At the end of Q3 2022, 31 hedge funds held stakes in Livent Corporation (NYSE:LTHM) worth $360 million. This is compared to 30 positions in the previous quarter with stakes worth $294 million. Joho Capital is the top investor in Livent Corporation (NYSE:LTHM) and has a position worth $91.2 million in the company as of Q3 2022.

Here is what First Pacific Advisors had to say about Livent Corporation (NYSE:LTHM) in its third-quarter 2022 investor letter:

“Livent Corporation (NYSE:LTHM) is an integrated, low-cost lithium miner and processor that was spun out of FMC Corporation in 2018.9 Lithium is an essential component of electric vehicle batteries, is chronically undersupplied and spot Lithium Carbonate continues to hit new highs even as other commodity prices have come down. 10 Livent is currently running at roughly breakeven profitability, but our work suggests they will benefit from rising Lithium prices and credible capacity expansion plans. This is an unusual investment for us – we are generally wary of our ability to forecast commodity markets and we have sized the Livent position commensurately.”

3. Sociedad Quimica y Minera (NYSE:SQM)

Number Of Hedge Fund Holders: 34

Sociedad Química y Minera (NYSE:SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals. One of the world’s biggest lithium producers, SQM’s natural resources main production facilities are located in the Atacama Desert in Tarapacá and Antofagasta regions.

On November 18, Citi analyst P.J. Juvekar lowered the price target on Sociedad Química y Minera (NYSE:SQM) to $112 from $123 and kept a Buy rating on the shares. According to Juvekar, lithium prices increased sequentially in Q3 and in fiscal 2023, which means that the company will likely be fully exposed to the market price. The analyst dropped the price target to reflect “near-peak earnings at continued high prices.”

At the end of Q3 2022, 34 hedge funds were bullish on Sociedad Quimica y Minera (NYSE:SQM) and disclosed stakes worth $713.9 million in the company. This is compared to 29 positions in the preceding quarter with stakes worth $658.6 million in the company. As of September 30, Arrowstreet Capital is the largest shareholder in the company and has stakes worth $125.2 million in the company.

2. Johnson Controls International plc (NYSE:JCI)

Number Of Hedge Fund Holders: 37

Johnson Controls International plc (NYSE:JCI) is an American Irish-domiciled multinational conglomerate that produces fire and HVAC equipment for buildings. On August 5, the company announced that it has been awarded a $299 million grant by the United States Department of Energy under the American Recovery and Reinvestment Act (ARRA) to build domestic manufacturing capacity for advanced Li-ion batteries for hybrid and electric vehicles.

At the beginning of December, Oppenheimer analyst Noah Kaye raised the firm’s price target on Johnson Controls International plc (NYSE:JCI) to $76 from $68 and maintained an Outperform rating on the shares. After meeting with CFO Olivier Leonetti at the company’s headquarters for an investor discussion that highlighted several potentially underappreciated elements of the story, the analyst stated that the company is executing significant organizational changes that could translate to sustainable outperformance on organic growth.

As per Insider Monkey’s Q3 2022 database, 37 hedge funds owned stakes in Johnson Controls International plc (NYSE:JCI), up from 33 in the preceding quarter. These stakes are collectively valued at over $1.3 billion.

Here is what Aristotle Capital Management had to say about Johnson Controls International plc (NYSE:JCI) in its Q1 2022 investor letter:

“As investors since the fourth quarter of 2017, we have enjoyed a front-row view of the large transformation that has taken place at Johnson Controls. Once a multi-industrial corporation, the company successfully turned itself into a pure-play buildings solutions and technology provider. Catalysts we previously identified for Johnson Controls included synergies following its merger with Tyco International, which provides fire safety and building security products, as well as benefits from its separation of non-building-focused businesses, such as automotive seating and batteries. With all catalysts in sight now nearing completion, and Johnson Controls now a better business for it – with higher recurring revenues and lower capital intensity – we decided to exit our investment to help fund the purchases of Xcel Energy and Atmos Energy.”

1. Albemarle Corporation (NYSE:ALB)

Number Of Hedge Fund Holders: 49

Albemarle Corporation (NYSE:ALB) is a specialty chemicals manufacturing company based in Charlotte, North Carolina. It operates through 3 divisions: lithium, bromine specialties and catalysts. As of 2020, Albemarle was the largest provider of lithium for electric vehicle batteries.

Earlier this November, RBC Capital analyst Arun Viswanathan raised the price target on Albemarle Corporation (NYSE:ALB) to $380 from $371 and maintained an Outperform rating on the shares after its Q3 earnings beat. The analyst states that he remains favorable on the stock due to a tight lithium supply-demand. However, he also remains cautious on the potential for large price swings in the lithium spot market.

On November 2, Albemarle Corporation (NYSE:ALB) reported earnings for the third quarter of fiscal 2022. The company generated a revenue of $2.09 billion, an increase of 151.85% on a year-over-year, and reported earnings per share of $7.50, surpassing consensus estimates by $0.51.

At the close of Q3 2022, 49 hedge funds were long Albemarle Corporation (NYSE:ALB) and disclosed stakes worth $621.4 million in the company. This is compared to 39 hedge funds in the previous quarter with stakes worth $600.6 million. The hedge fund sentiment for the stock is positive. As of September 30, Millennium Management is the top investor in Albemarle Corporation (NYSE:ALB) and has stakes worth $159.5 million in the company.

Here is what Carillon Tower Advisers had to say about Albemarle Corporation (NYSE:ALB) in its third-quarter 2022 investor letter:

“Albemarle Corporation (NYSE:ALB) is a global specialty chemicals company with leading positions in lithium, bromine, and refining catalysts. The company’s shares outperformed meaningfully in the quarter, driven largely by robust demand for lithium used to manufacture electric vehicle batteries. Albemarle is well-positioned for the accelerating adoption of electric vehicles and could benefit from the Inflation Reduction Act.”

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