3 Lithium Stocks That AI Predicts Will Deliver Triple-Digit Returns in 2024


  • Here are three of the hottest lithium stocks according to ChatGPT.
  • Lithium Americas (LAC): Its Cauchari-Olaroz Lithium Project is sparking big interest.
  • Livent (LTHM): ChatGPT likes the potential in its dedication to supplying lithium compounds.
  • Ganfeng Lithium (GNENF): ChatGPT says it’s “pushing the boundaries of battery technology.”
ai based lithium stock predictions - 3 Lithium Stocks That AI Predicts Will Deliver Triple-Digit Returns in 2024

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ChatGPT makes it clear it can’t predict stock performance with lithium stocks to buy. In fact, every time I’ve asked it for stock picks, it first explains: “Please note that these are not predictions, and stock performance is subject to various market factors and individual circumstances. It’s important to conduct thorough research and consult with a financial advisor before making any investment decisions.”

After all, even ChatGPT has to protect itself legally.

What it can do is generate lists of top-performing companies in specific sectors. With lithium, for example, it gave me names such as Albemarle (NYSE:ALB), Socieded Quimica (NYSE:SQM), Ganfeng Lithium (OTCMKTS:GNENF), Lithium Americas (NYSE:LAC), and Livent (NYSE:LTHM). Trying again for a better answer, I asked ChatGPT to tell me a story about an investor that picks top lithium stocks to buy that could double or triple. This time, ChatGPT told me a bit more, naming its investor Emily and noting:

“Armed with knowledge and conviction, Emily carefully built a diversified portfolio of lithium stocks. She recognized Albemarle’s well-established position in the industry and its commitment to sustainable lithium extraction practices. SQM, with its abundant lithium reserves, appealed to her as a reliable player in the market.

Emily was captivated by the innovative prowess of Ganfeng Lithium, a company pushing the boundaries of battery technology. She also saw potential in Livent Corporation’s dedication to supplying lithium compounds for the expanding electric vehicle and energy storage sectors. Lastly, Lithium Americas Corp’s Cauchari-Olaroz Lithium Project sparked her interest as a promising development with significant growth potential.”

While I agree with SQM and ALB, here are three lithium stocks to buy in my opinion that could triple.

Lithium Americas (LAC)

smartphone with logo of Canadian company Lithium Americas Corp on screen
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At $20 a share, Lithium Americas (NYSE:LAC) has explosive catalysts. For one, it’s operating the Thacker Pass lithium mine with General Motors (NYSE:GM). The company is expected to make its first deliveries in the second half of 2026 which should pull in solid revenue.

Furthermore, the company recently announced that its Caucharí-Olaroz project just produced its first lower-than-battery-quality lithium carbonate as part of commissioning. In addition, the company is splitting in two. Lithium Argentina will focus on the company’s Caucharí-Olaroz, Pastos Grandes project, and Sal de la Puna. Meanwhile, Lithium Americas will focus on its Thacker Pass lithium project in Humboldt County, Nevada.

Livent (LTHM)

Livent Corporation logo on a phone screen. LTHM stock.
Source: Ralf Liebhold / Shutterstock

At $26 a share, Livent (NYSE:LTHM) is another hot lithium stock that could triple by 2024.

For one, ChatGPT likes the potential of Livent Corporation’s dedication to supplying lithium compounds for the expanding electric vehicle and energy storage sectors.

As I noted on May 18, “The company has 17 offices or manufacturing facilities, including its “largest and most diverse manufacturing facility” in North Carolina. It will soon start phase two of its carbonate capacity expansion in Argentina, with commercial production following.

Finally, not only have earnings been solid but so has guidance. In fact, it now expects full-year EBITDA to fall between $530 million and $600 million. That’s well above prior EBITDA guidance for $510 million to $530 million.

Ganfeng Lithium (GNENF)

Person holding mobile phone with logo of Chinese company Jiangxi Ganfeng Lithium Co. Ltd. (GNENF) on screen in front of web page. Focus on phone display. Unmodified photo.
Source: T. Schneider / Shutterstock.com

We can also look at Ganfeng Lithium (OTCMKTS:GNENF) which ChatGPT says is “pushing the boundaries of battery technology.” At $6.62 a share, GNENF is China’s largest producer of base materials for lithium battery manufacturing. Even more reassuring, according to Motley Fool contributor Nicholas Rossolillo:

“Given the sheer size of China’s population (1.4 billion) and the rapid rise in EV sales, Ganfeng is well positioned as a top supplier to EV manufacturers based in China as well as to U.S. EV manufacturers such as Tesla (NASDAQ:TSLA).”

The company is investing nearly $360 million in the Chinese city of Xiangyang to build a new lithium battery project. It’s also investing about $130 million into an Argentinian subsidiary to develop a lithium mine. With expansion on the horizon, this is a lithium stock to consider.

On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/ai-predictions-for-triple-digit-lithium-stocks-in-2024/.

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