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Highlights
- Last week, ASX lithium equities plummeted after Goldman Sachs predicted a price peak in lithium materials.
- According to analysts, supply will catch up with demand in the coming years, potentially resulting in a lithium surplus.
- The ASX 200 Materials Index closed 1.90% higher today at 18,408.60 points.
Concerns over the supply-demand balance have put pressure on the lithium industry in recent weeks as demand has outstripped supply, which has resulted in sky-high prices for the white metal.
Last week, ASX lithium equities plummeted after Goldman Sachs predicted a price peak in lithium materials. But analysts are predicting that supply will catch up with demand in the coming years, potentially resulting in a lithium surplus.
ASX 200 Materials Index closed 1.90% higher at 18,408.60 points today (08 June 2022). The energy sector was the top player, followed by the utilities, industries, and materials sectors.
In this article, we will talk about the performance of five ASX-listed lithium stocks today.
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Sayona Mining Limited
Emerging lithium producer Sayona Mining Limited (ASX:SYA) focuses on mineral exploration asset acquisition and evaluation. The corporation concentrates primarily on lithium, with Australia and Overseas as geographical regions.
Shares of Sayona Mining closed at AU$0.155 each, down 6.06% today. The company has a current market capitalisation of AU$1.36 billion.
Also Read: How did Sayona Mining (ASX:SYA) shares perform last week?
Core Lithium Ltd
Core Lithium Ltd (ASX:CXO) is developing the Finniss Project in the Northern Territory. It is Australia's newest and most advanced lithium project. The Finniss Project places Core Lithium at the forefront of new global lithium production, with the first production scheduled for delivery by 2022.
Core Lithium's shares ended 1.61% higher today at AU$1.26 per share. The company has a current market capitalisation of AU$2.14 billion.
Pilbara Minerals Limited
Pilbara Minerals Limited (ASX:PLS) is the world's largest and most independent hard-rock lithium enterprise, as well as the top ASX-listed lithium pure-play. The Pilgangoora Operation produces a spodumene and tantalite concentrate in Western Australia's resource-rich Pilbara region.
Pilbara Minerals' shares last exchanged hands at AU$2.42 each, down 0.41% today. The current market capitalisation of the company is AU$7.23 billion.
Piedmont Lithium Inc
Piedmont Lithium Inc (ASX:PLL), a major lithium producer with a varied portfolio, is dedicated to assisting in the transition to a net-zero society and developing a sustainable energy economy in North America.
The firm intends to become one of North America's top lithium hydroxide producers by processing spodumene concentrate produced from assets in which it has an economic interest.
Piedmont Lithium's projects include the Carolina Lithium and LHP-2 Projects in the United States and agreements with Sayona Mining (ASX:SYA) in Quebec's Abitibi Hub and Atlantic Lithium in Ghana.
Piedmont Lithium's shares ended 0.63% higher today at AU$0.81 per share. The company's current market capitalisation is AU$1.27 billion.
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Ioneer Ltd
Australia-based ioneer Ltd (ASX:INR) is a lithium-boron provider. The company concentrates its efforts on the Rhyolite Ridge Lithium-Boron Project (Rhyolite Ridge) in Nevada. North America and Australia are the two segments in which the company operates.
Ioneer shares closed at AU$0.47 apiece, down 3.09% today. The company has a current market capitalisation of AU$1.01 billion.
Also Read: SYA, CXO, AKE, PLS: How did these lithium stocks perform today on ASX?
