Big lithium short bets get ‘very dangerous' as price outlook improves [Financial Post (Toronto, Ontario, Canada)]
Albemarle Corporation (ALB)
Last albemarle corporation earnings: 2/19 04:15 pm
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Source: Financial Post
Short bets worth billions of dollars against some of the world's largest lithium producers are under threat as a supply glut shows signs of thinning. UBS Group AG and Goldman Sachs Group Inc. have trimmed their 2024 supply estimates by 33 per cent and 26 per cent, respectively, while Morgan Stanley warned about the growing risk of lower inventories in China. The revisions come after lithium prices cratered last year as supply ran ahead of demand, with some producers cutting output. Article content Article content Now, prices of the key material used to power electric vehicles are showing signs of a revival after the rout last year sent stocks spiralling and attracted short sellers. Bets against top producer Albemarle Corp. and Australian miner Pilbara Minerals Ltd. account for more than a fifth of their outstanding shares, or the equivalent of about US$5 billion, according to data compiled by Bloomberg. Article content “Double-digit capacity has already been taken out of
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ALB
News
- Albemarle (ALB) Beats Stock Market Upswing: What Investors Need to Know [Yahoo! Finance]Yahoo! Finance
- Pair of Rejected Bids Show Mining Giants Can't Easily Acquire Critical Battery Metals AssetsPR Newswire
- Pair of Rejected Bids Show Mining Giants Can't Easily Acquire Critical Battery Metals AssetsPR Newswire
- On Lithium's Frontier, Miners Are Betting on a Greener Second Act [Yahoo! Finance]Yahoo! Finance
- On Lithium's Frontier, Miners Are Betting on a Greener Second Act [BNN Bloomberg (Canada)]BNN Bloomberg
ALB
Earnings
- 2/14/24 - Beat
ALB
Sec Filings
- 3/28/24 - Form 10-K/A
- 3/26/24 - Form DEFA14A
- 3/26/24 - Form DEF
- ALB's page on the SEC website