Shares of Albemarle Corporation (NYSE:ALB) traded today at $242.07, eclipsing its 52-week high. Approximately 967,000 shares have changed hands today, as compared to an average 30-day volume of 1.3 million shares.
Albemarle is the world’s largest lithium producer. Our outlook for robust lithium demand is predicated upon increased demand for electric vehicle batteries. Albemarle produces lithium from its salt brine deposits in Chile and the U.S. and its hard rock joint venture mines in Australia. Albemarle is also a global leader in the production of bromine, used in flame retardants. The company is also a major producer of oil refining catalysts.
In the past 52 weeks, Albemarle Corporation share prices are bracketed by a low of $79.06 and a high of $242.07 and is now at $232.62, 194% above that low price.
Albemarle Corporation (NYSE:ALB) is currently priced 41.4% above its average consensus analyst price target of $136.22.
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