Lithium stocks, like Albemarle (ALB) are still coming back strong.
All on speculation that lithium prices may finally be bottoming out. Helping, SQM CEO Ricardo Ramos expects for lithium prices to remain stable this year, and for sales volumes to improve. Even better, Australian lithium company Pilbara just said it’s seeing buying interest again, too.
After bottoming out around $109.40 on March 5, the lithium stock is now back to $124.75. And if lithium prices really are about to turn higher, ALB could potentially refill its gap around $140. Plus, as investors wait for the stock to recover lost ground, they can collect ALB’s yield of 1.28%.
On Feb. 24, ALB declared a quarterly dividend of $0.40 per share. The dividend, which has an annualized rate of $1.60, is payable April 1, 2024, to shareholders of record at the close of business as of March 15, 2024.