From Nasdaq: 2024-05-11 09:54:00

Albemarle (NYSE: ALB), a major lithium producer, hints at a market price stabilization after a tumultuous 2023 due to excess supply and pricing issues. Despite a 47% drop in quarterly revenue and $0.08 loss per share in Q1 2024, the company forecasts profitability for the full fiscal year and expects growth in EV battery demand.

Albemarle faces challenges following the lithium price crash, trading nearly 50 times trailing earnings with a price-to-book value of 1.6. The company aims to recover by executing new projects and maintaining cash flow. Although highly volatile, Albemarle’s potential recovery could make it an attractive investment, especially with a 10-20% volume growth outlook for 2024.

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Read more at Nasdaq: 1 Rallying Lithium Stock: Is the Worst Now Over? Time to Buy?