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Highlights
- Lithium-ion batteries are being increasingly used in electric cars.
- With the rise in the acceptance of electric cars, the demand for lithium batteries is expected to rise in the future.
- Some market experts believe that lithium can evolve as the future of the metal sector.
Emergence of the green energy revolution has led to an increase in the demand for lithium-based batteries and other battery metals by the automobile sector.
Lithium-based batteries are known to be used in electric vehicles (EVs) across genres and segments, an industry that has been growing recently. Although the need for lithium-based batteries has increased for other electrification needs as well.
The popularity of lithium as a metal has expanded in the wake of the energy storage revolution. Some market experts believe that lithium can evolve as the future of the metal sector.
Let’s explore some cheap lithium stocks that are listed on the Toronto Stock Exchange Venture (TSXV).
- E3 Metal Corp (TSXV:ETMC)
The metal and mining company focuses on developing technology for the extraction of Lithium.
ETMC stock closed at C$ 1.81 apiece on August 13, 2021, trading roughly 66 per cent below its 52-week high of C$ 5.37 (February 18, 2021). The company held a market cap of C$ 96 million and about 53 million outstanding shares.
The metal stock returned roughly 48 per cent in the last nine months and skyrocketed by nearly 466 per cent in the past year.
E3 Metal’s price-to-book (P/B) ratio stood at 4.76
- Alpha Lithium Corporation (TSXV:ALLI)
The Canadian exploration company focuses on acquiring and developing high-grade lithium brine deposits. It also holds a keen interest in green energy projects.
At close, ALLI stock’s price stood at C$ 0.66 on August 13, trading nearly 35 per cent above their 52-week low of C$ 0.49 (August 6, 2021) and around 43 per cent below their 52-week high C$ 1.16 (February 5, 2021).
The lithium stock rose by nearly five per cent in the past year. However, it dipped by almost 12 per cent on a year-to-date (YTD) basis.
Alpha Lithium’s P/B ratio stood at 1.65.
Also Read: 2 Lithium Stocks To Buy As Federal Budget 2021 Pushes For Green Initiatives
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- Standard Lithium Ltd. (TSXV:SLI)
Standard Lithium was ranked as one of the top junior metal companies on the TMX on August 13, with a closing stock price of C$ 9.72. The C$ 1.3 billion market cap company is known to explore and develop lithium brine properties in the US.
At close on August 13, SLI stock was trading nearly 853 per cent above its 52-week low of C$ 1.02 (September 4, 2020). Over the past year, the stock surged up by over 609 per cent.
Standard Lithium’s debt-to-equity (D/E) ratio stood at 0.06 and P/B ratio was about 19 August 13.
- Vision Lithium Inc (TSXV:VLI)
This mineral exploration company discovers and develops mineral deposits in the Quebec region of Canada. It has been exploring the Sirmac lithium property, a prospective battery mineral property located in this province, among other projects.
At the time of writing this, Vision Lithium held a market cap of about C$ 27 million and 207 million total outstanding shares.
Stocks of the company closed at C$ 0.13 on August 13. On this day, VLI stock was trading close to 86 per cent below its 52-week high of C$ 0.95 (February 11, 2021).
The lithium stock price posted a one-year increase of 100 per cent on August 13. It also grew by roughly 271 per cent on a YTD basis.
Vision Lithium’s P/B ratio stood at 1.44, and noted a D/E ratio of 0.01.
Also Read: Sherritt & Lithium Americas (LAC): 2 TSX Battery Stocks Powering Up
- Rock Tech Lithium Inc. (TSXV:RCK)
This Canadian chemical and lithium development company is building Europe’s first lithium hydroxide converter in Ontario, Canada. Rock Tech Lithium aims to reduce energy consumption and waste, thereby providing a sustainable source of energy.
Stocks of Rock Tech Lithium closed at C$ 5.6 apiece on August 13. At this point, the metal stock was trading nearly 38 per cent below its 52-week high of C$ 9 (January 14, 2021).
RCK stock had ballooned by 833 per cent by over the past year and grown by about 271 per cent on a YTD basis.
As per its valuation metrics, Rock Tech Lithium held a P/B ratio of 15.55 and a D/E ratio of 0.01.
Bottomline
The demand narrative for lithium-based batteries and products is getting stronger despite the global economic turmoil due to the outbreak of the pandemic. This growth has been primarily fired up by the expanding EV operations and mainstream acceptance amid a growing awareness of environmental health and climate change.
If this growth continues, some market experts project that the lithium exploration and battery industry could inflate futher in the future.