|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||2.3950 - 2.4500|
|52 Week Range||2.0000 - 4.8500|
|Beta (3Y Monthly)||2.09|
|PE Ratio (TTM)||35.22|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Lithium producer Orocobre Ltd expects prices for the white metal used to make electric vehicle batteries to remain volatile for the short term, a step likely to make financing difficult for new industry projects, its chief executive said on Tuesday. Orocobre, which operates in Argentina, has seen its lithium prices drop 40 percent in the past six months, Chief Executive Martin Perez de Solay told the CERAWeek energy conference on Tuesday.
As such, we expect lithium carbonate prices to rise back to our long-term forecast of $12,000 per metric ton by the end of 2022. Additionally, we note that half of Orocobre's sales come from technical-grade lithium carbonate, which is currently purchased as a feedstock by lithium hydroxide producers in China. During Orocobre's conference call, management said the weakness in pricing was coming from the technical-grade product as a result of lower demand from lithium hydroxide producers, while also stating that battery-grade lithium carbonate prices were flat.
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Ganfeng Lithium Co. sent a team to the town -- a 90-minute drive southwest of Dublin -- in 2013, shuttling between prospective lithium deposits dotted through the verdant countryside. It was part of their company’s first foray outside China amid a drive to boost production of key materials needed to make rechargeable batteries. With projects and partnerships now spanning South America to Australia, Ganfeng is aiming to use proceeds from a share sale in Hong Kong this week to continue a growth spree that’s forecast to make it the industry’s second-largest producer from this year.
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Short selling of shares in lithium miners SQM, Albemarle, Galaxy and Orocobre has ballooned this year, reflecting what fund managers say is a sign of growing scepticism of an imminent battery boom. The heavy shorting of the stocks puts investors at risk of a short squeeze if project timelines meet or beat expectations, or if near-term oversupply of battery chemicals proves to be more seasonal than structural, fund managers and analysts said. Short selling entails a bearish investor selling shares he or she does not own in the hope of profitably buying them back at a lower price in the future.