Keep an eye on Lithium Americas (LAC).
With the EV boom fueling lithium demand, stocks like LAC could easily race to higher highs.
B. Riley analysts just initiated a buy rating on the stock with a price target of $25. “Domestic projects offer several inherent advantages over overseas imports, namely lower freight rates and sourcing risk,” as quoted by Barron’s. “These advantages will, in our opinion, lead to local lithium projects, like Thacker Pass, outperforming foreign suppliers in the long run.”
Thanks in part to the electric vehicle story, lithium prices appear to have bottomed out, and are expected to move higher in the early part of 2021, as noted by Resource World. “It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs.”
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