SYA, PLS, AKE: How have these lithium stocks fared so far in 2022?

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SYA, PLS, AKE: How have these lithium stocks fared so far in 2022?

 SYA, PLS, AKE: How have these lithium stocks fared so far in 2022?
Image source: © Loiren | Megapixl.com

Highlights

  • The demand for Lithium is increasing rapidly across the globe.
  • Lithium is used in electric vehicles (EVs) battery.
  • Lithium stocks like Sayona Mining, Pilbara and Allkem shares traded in red today.

Lithium's demand has been increasing over the last few years and it is mainly because the metal is used in battery of electric vehicles (EVs). Lithium has a significant energy storage capacity and is an excellent electrical conductor.

Some investors have done well with ASX lithium stocks but the lithium stocks have slightly declined recently.

According to Goldman, the price of lithium will typically be US$53,982 a tonne in 2022 and US$16,372 in 2023. This is in contrast to the spot lithium price, which is US$60,350 a tonne right now.

According to Benchmark Minerals, lithium carbonate prices have increased by 385% over the past year and by 115% since the start of 2022.

ASX 200 Materials index traded 2.18% lower at 15,555.60 points at 2.01 PM AEST today. On sectoral front, only three sectors traded in red territory today during intraday trading session.

On that note, let’s look at a few ASX-listed lithium stocks’ performances so far in 2022.

Image Source: © 2022 Kalkine Media ®

Data Source- ASX

Sayona Mining Ltd

Sayona Mining Ltd (ASX:SYA) is a firm that specialises in mineral exploration and focuses on finding, buying, and analysing mineral exploration assets, especially lithium.

On Thursday (23 June 2022), shares of Sayona were trading at AU$0.117 each, down 9.62% on ASX at 2.08 PM AEST. The company has a current market capitalisation of AU$1.07 billion.

Sayona's shares have fallen over 15% on a YTD basis and declined around 50% in the last one month alone.

Also Read: Sayona Mining (ASX:SYA) shares are trading in red today, here’s why

Source: © Malpetr | Megapixl.com

Pilbara Minerals Ltd

Pilbara Minerals (ASX:PLS) develops and manages mineral resources. The company is headquartered in West Perth, Western Australia, and was established in 2005.

Pilbara Minerals' shares were trading at AU$2.03 apiece, down 1.45% on ASX today at 2.15 PM AEST. The company has a current market capitalisation of AU$6.13 billion.

The stock has recorded negative growth of over 40% YTD, and in the last month, the shares have fallen over 27%.

Allkem Limited

Allkem (ASX:AKE) is a mineral exploration and production company established in Argentina. The company was created after the merger of Galaxy Resources and Orocobre in 2021.

The company’s main focus areas are lithium and potash exploration and its current market capitalisation is AU$6.37 billion.

On Thursday, shares of Allkem were spotted trading at AU$9.59 each, down 4.1% on ASX at 2.19 PM AEST. The company's share price has dropped more than 7% on a YTD basis. Allkem shares have fallen around 26% in the last month alone.

Also Read: AKE, MIN, PLS, VUL: These 4 ASX lithium firms are producing white metal

Lithium's demand has been increasing over the last few years and it is mainly because the metal is used in battery of electric vehicles (EVs). Lithium has a significant energy storage capacity and is an excellent electrical conductor.

Some investors have done well with ASX lithium stocks but the lithium stocks have slightly declined recently.

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