SYA, CXO, PLS: 3 Lithium stocks which are creating a buzz on ASX

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SYA, CXO, PLS: 3 Lithium stocks which are creating a buzz on ASX

Sayona Mining, Core Lithium Ltd, Pilbara Minerals Limited, Lithium stocks
Image source: © Skypixel | Megapixl.com

Highlights

  • The S&P/ASX 200 Materials Index (ASX:XMJ) was 1.514% lower at 16942.300 points at 1:50 PM AEST today.
  • In the last year, the share prices of major Lithium stocks Sayona Mining, Core Lithium Ltd, and Pilbara Minerals Limited haves gained 816.67%, 456.52%, and 149.10%, respectively.
  • Australia, Chile, China and Argentina are the world's leading lithium producing countries.

After three consecutive days of positive performance, today, the Australian equity market opened the trade on a negative note. The benchmark index ASX200 was down 1.498% at 7075.100 at 1:46 PM AEST. Except for the health care sector, all other sectors were trading in the red today. Meanwhile, when it comes to mining, Australian mining companies, including Lithium producers, had a tough day today as the S&P/ASX 200 Materials Index (ASX:XMJ) was 1.514% lower at 16942.300 points at 1:50 PM AEST.

In this article, we will talk about three ASX-listed mining stocks, including Sayona Mining (ASX:SYA), Core Lithium Ltd (ASX:CXO), and Pilbara Minerals Limited (ASX:PLS). It is worth mentioning that Lithium prices are up over 400% in the last one year (as of 18 May). Lithium is a key element used in electric vehicle battery manufacturing and it is believed that the value of global lithium sales will increase up to 20 times between 2020 and 2030.

Australia, Chile, China and Argentina are the world's leading Lithium producing countries. 

Let’s take a look at the market performance of three highly popular Lithium stocks: Sayona Mining, Core Lithium Ltd, and Pilbara Minerals Limited.

Sayona Mining (ASX:SYA)

The share price of emerging lithium producer Sayona Mining traded in the red as the stock was down 6.779% at AU$0.275 per share on ASX at 2:29 PM AEST today. The sharp decline in the company's share price was seen despite there being no market sensitive announcement from its side on ASX today. The fall in Sayona Mining can be attributed to the overall poor performance of the Australian share market and the weak performance of the broader materials index.  

Sayona has a stake in North American Lithium, a well-established lithium mine and concentrator. The company intends to integrate North American Lithium with its Authier Lithium Project and the Tansim Lithium Project to create a world-scale Abitibi lithium hub.

The company has also announced the acquisition of a 60% interest in the Moblan Lithium Project in Northern Québec. 

In the last one year, the share price of Sayona mining has gone up 816.67%, while the stock has gained 96.43% year-to-date (YTD). 

Sayona Mining is an emerging lithium producer with projects in Québec, Canada and Western Australia.

Image Source: © Fambros | Megapixl.com

Core Lithium Ltd (ASX:CXO):

The shares of Core Lithium Ltd traded 1.915% lower at AU$1.280 per share on ASX at 2:56 PM AEST.  The company is well-positioned to be Australia's next lithium producer. It is involved in the development of one of Australia's most capital-efficient and lowest-cost spodumene lithium projects - the Finniss Lithium Project.

Core Lithium Ltd commands a market capitalisation of AU$2.26 billion. In the last one year, Core Lithium's share price has gained 456.52%, while the stock is up 103.17% YTD. 

Read More: Reckon (ASX:RKN) shares soar nearly 50%. Here’s why?

Pilbara Minerals Limited (ASX:PLS):

The share price of Pilbara Minerals Limited traded 1.250% lower at AU$2.765 per share on ASX at 3:09 PM AEST today. 

Pilbara Minerals is an ASX listed pure-play lithium company which owns 100% of the world's largest and independent hard-rock lithium operation. Located in Western Australia's resource-rich Pilbara region, the company's Pilgangoora project produces a spodumene & tantalite concentrate.

The company has a market capitalisation of AU$8.33 billion. 

In the last one year, the share price of Pilbara Minerals Limited has gained 149.10%, while the stock is down 21.45% YTD.

Read More: Australia's unemployment rate at 50-year low, dips below 4%

After three consecutive days of positive performance, today, the Australian equity market opened the trade on a negative note. The benchmark index ASX200 was down 1.498% at 7075.100 at 1:46 PM AEST. Except for the health care sector, all other sectors were trading in the red today. Meanwhile, when it comes to mining, Australian mining companies, including Lithium producers, had a tough day today as the S&P/ASX 200 Materials Index (ASX:XMJ) was 1.514% lower at 16942.300 points at 1:50 PM AEST.

In this article, we will talk about three ASX-listed mining stocks, including Sayona Mining (ASX:SYA), Core Lithium Ltd (ASX:CXO), and Pilbara Minerals Limited (ASX:PLS). It is worth mentioning that Lithium prices are up over 400% in the last one year (as of 18 May). Lithium is a key element used in electric vehicle battery manufacturing and it is believed that the value of global lithium sales will increase up to 20 times between 2020 and 2030.

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