The Big Lithium Short Gets ‘Dangerous' on Lower Supply Outlook [BNN Bloomberg (Canada)]
Albemarle Corporation (ALB)
Last albemarle corporation earnings: 2/19 04:15 pm
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Source: BNN Bloomberg
UBS Group AG and Goldman Sachs Group Inc. have trimmed their 2024 supply estimates by 33% and 26%, 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. Now, prices of the key material used to power electric vehicles are showing signs of a revival after the rout last year sent stocks spiraling 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 to about $5 billion, according to data compiled by Bloomberg. “Double-digit capacity has already been taken out of the lithium market and that usually is a sign that the commodity price is bottoming,” said Jun Bei Liu, a hedge fund manager at Tribeca Investment Partners in Sydney, who holds a long position in Pilbara. Shorting the company
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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