Image Source: © Loiren | Megapixl.com
- Materials index is down today therefore most lithium shares traded in the red territory.
- The shares of Pilbara, Core Lithium, Sayona and Allkem also traded in red today.
Macquarie anticipates spodumene prices to peak at US$4,900 a tonne (in the September quarter).
A month ago, another broker Goldman Sachs predicted a "sharp correction" in lithium prices because an overstock was on the horizon, which caused ASX lithium share prices to plummet.
After the new prediction, the ASX 200 Materials index has been going up. However, the index was 1.47% down today at 16,150.70 points at 2.26 PM AEST today (June 29). The ASX 200 Index was 1.07% lower at 6,691.30 points at 2.27 PM AEST.
In this article, we will discuss ASX-listed lithium stocks with the highest market cap and their YTD performances.
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Data Source- ASX website dated 29 June 2022
Pilbara Minerals (ASX:PLS) was founded in 2005 and it manages mineral resources. Pilbara is headquartered in West Perth, Western Australia.
Pilbara Minerals' shares were trading at AU$2.36 apiece, down 1.26% on ASX today at 2.33 PM AEST. The company has a current market capitalisation of AU$7.11 billion. Pilbara Minerals has recorded negative growth of over 26% YTD.
Argentina-based Allkem (ASX:AKE) is a mineral exploration and production company. The company was established in 2021 following the merger of Galaxy Resources and Orocobre. It mainly focuses on lithium and potash exploration.
Allkem’s market capitalisation is AU$6.86 billion.
On Wednesday, shares of Allkem were spotted trading at AU$10.70 each, down 0.56% on ASX at 2.37 PM AEST. The company's share price has dropped almost 3% on a YTD basis.
Source: © Scanrail | Megapixl.com
Core Lithium (ASX:CXO), an Australian company, specialises in mineral exploration. The company's main focus areas include the Finniss Lithium Project and further prospects in the Northern Territory (NT) and South Australia.
On Wednesday, shares of Core Lithium (market cap: AU$1.80 billion) were trading at AU$0.99 apiece, down 4.09% on ASX at 2.40 PM AEST.
The company's shares have grown approx—70% on a YTD basis.
Sayona Mining Ltd (ASX:SYA) specialises in mineral exploration and focuses on locating, purchasing, and analysing mineral exploration assets, particularly lithium.
On Wednesday (29 June 2022), shares of Sayona were trading at AU$0.16 each, down 8.57% on ASX at 2.45 PM AEST. The m-cap of the company is AU$1.44 billion.
Sayona's shares have grown around 23% on a YTD basis.
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