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Lithium shares on the ASX are expected to benefit from top broker Macquarie's updated
prediction for lithium prices last week.
Macquarie forecasts spodumene prices to peak at US$4,900 a tonne in the September quarter.
Spodumene is a mineral which is a source of lithium.
Earlier, Goldman Sachs had predicted a "sharp correction" in lithium prices because an overstock
was on the horizon, which caused ASX lithium share prices to plummet.
After the new prediction, the ASX 200 Materials index has been going up.
However, the index was 1.21% down today at 15,957.00 points at 11:32 AM AEST on June
30.
While as S&P ASX 200 Index was 0.57% lower at 6,661.70 points as of 11:40 AM AEST today.
On that note, let's look at ASX-listed lithium stocks with the highest market cap and their
year to date (YTD) performances.
First on the list is Pilbara Minerals.
Pilbara Minerals (ASX:PLS) was founded in 2005 and manages mineral resources.
Pilbara is headquartered in West Perth, Western Australia.
Pilbara Minerals' shares traded at AU$2.32, up by 0.87% as of 11:23 AM AEST today.
The company has a current market capitalisation of AU$6.84 billion.
Pilbara Minerals shares have declined 34.09% on a year-to-date basis as of June 30.
Second on the list is Allkem.
Argentina-based Allkem (ASX:AKE) is a mineral exploration and production company.
The company was established in 2021 following the merger of Galaxy Resources and Orocobre.
It mainly focuses on lithium and potash exploration.
Allkem shares traded at AU$ 10.36, down by 2.17% as of 11:37 AM AEST on June 30.
The company stands with a market cap of AU$ 6.75 billion.
AKE shares have declined 7.50% on a year-to-date basis as of June 30.
Next on the list is Core Lithium.
Core Lithium (ASX:CXO) is an Australian company specialising in mineral exploration.
The company's main focus areas include the Finniss Lithium Project and further prospects
in the Northern Territory (NT) and South Australia.
Core Lithium shares traded at AU$ 1.00, up by 1.02% as of 11:42 AM AEST today.
The company has a market cap of AU$ 1.70 billion.
CXO shares have surged 57.94% on a year-to-date basis as of June 30
Last on the list is Sayona Mining.
Sayona Mining (ASX:SYA) specialises in mineral exploration and focuses on locating, purchasing,
and analysing mineral exploration assets, particularly lithium.
Sayona Mining shares traded at AU$ 0.16, down by 3.12% as of 11:45 AM AEST today.
The company stands with a market cap of AU$ 1.31 billion.
SYA shares have surged 10.71% on a year-to-date basis as of June 30.
With that we come to an end of this Buzzing trend show.
Will be back again next week with the show.
Till than stay tuned to Kalkine TV for the latest insights and updates from the market.
I’m Sage, signing off.
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