5 best Canadian lithium stocks to buy in 2022

Published on January 06, 2022 05:24 AM EST

5 best Canadian lithium stocks to buy in 2022 — Image source: ©2022 Kalkine Media®

Highlights

Climate change and environmental effects that people worldwide are facing have derived transformational change in the automobile and energy storage system industry.

Lithium, a key ingredient to power the emerging clean technology markets like electric vehicles (EV), can be the future as people worldwide realize the need to switch to energy-efficient tech.

A lithium stock mentioned here rose by nearly 324 per cent in the past year.

Climate change and environmental effects that people worldwide are facing have derived transformational change in the automobile and energy storage system industry.

Lithium, a key ingredient to power the emerging clean technology markets like electric vehicles (EV), can be the future as people worldwide realize the need to switch to energy-efficient tech.

On that note, let us explore five top Canadian lithium stocks for 2022 and the years ahead.

1. Rock Tech Lithium Inc (TSXV:RCK)

Rock Tech Lithium Inc leverages its proprietary lithium hydroxide technology to the automobile sector in order to minimize carbon emissions. The lithium company posted cash and cash equivalents of C$ 11.55 million in the quarter ending September 30, 2021.

Stocks of Rock Tech Lithium closed at C$ 7.08 apiece on Tuesday, January 4, and gained nearly 324 per cent in the past year.

Also read: 5 Canadian penny stocks under 50 cents worth exploring in 2022

2. Standard Lithium Ltd (TSXV:SLI)

Standard Lithium Ltd held cash and cash equivalents of C$ 23.12 million in the quarter ending on September 30 of fiscal 2021. This lithium exploration and development company is working on carbon capture tech to minimize carbon impacts.

Stocks of standard lithium closed at C$ 11.84 apiece on January 4 and delivered a one-year gain of almost 307 per cent.

3. Sigma Lithium Corp (TSXV:SGML)

Sigma Lithium Corp posted cash and cash equivalents of C$ 35.48 million in the quarter ending September 30, 2021.

With a market capitalization of C$ 1 billion, Sigma Lithium saw its scrip close at C$ 12.21 apiece on January 4, returning almost 249 per cent in the past year.

4. Lithium Americas Corp (TSX:LAC)

Lithium Americas Corp, headquartered in Vancouver, British Columbia, recorded cash and cash equivalents of US$ 482 million in the quarter ending September 30, 2021.

This lithium stock closed at C$ 42.84 apiece on January 4. The LAC stock zoomed by about 148 per cent in the last year.

5. Neo Lithium Corp (TSXV:NLC)

With cash and cash equivalents of C$ 55.04 million, Neo Lithium Corp reported a net income of C$ 5.85 million in the third quarter of FY2021.

The junior lithium company saw its stock close at C$ 6.36 apiece on January 4. The NLC stock rose by approximately 193 per cent in the past year.

Bottom line:

Lithium-ion batteries power electric vehicles and electric batteries. With increasing environmental issues and new developments in the market, many are likely to view lithium-backed EVs as the sustainable and right choice.

Also read: 9 solid Canadian stocks with sound financials to buy in 2022

Kajal Jain

Author

Kajal Jain - Analyst
623 Posts
Kajal is a commerce graduate with expertise in the financial corporate sector. At Kalkine, she writes on Canadian equities and markets. In her free time, she enjoys music and gardening and likes to travel....

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