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7 Lithium Stocks That Will Power the Electric Vehicle Boom in 2021 - 6 of 7

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#6 - Galaxy Resources (OTCMKTS:GALXF)

If you’re willing to go even more speculative, you should consider Galaxy Resources (OTCMKTS:GALXF). By any definition, GALXF is a penny stock. Often times, penny stocks are that way for a reason. So any investment in Galaxy Resources needs to come with the caveat “let the buyer beware.”

However, like all lithium stocks, Galaxy has received a significant post-election boost. The question now is if they can hold those gains.

The bullish point of view points to the company’s diversified portfolio. Like Lithium Americas, Galaxy has a project in the lithium triangle area of Argentina. The company’s Sal de Vida project is what makes GALXF worth an investor’s time at the moment.

As EV manufacturers move into production mode, they will be paying particular attention to supply chain stability. And that’s another box that Galaxy Resources can check. In addition to its Sal de Vida project, the company has projects in its home country of Australia and Canada.

About Galaxy Resources
Galaxy Resources Limited engages in the production of lithium concentrate and exploration of minerals in Australia, Canada, and Argentina. It holds interests in the Sal de Vida project in Argentina; the Mt Cattlin spodumene project in Western Australia; and the James Bay project in Quebec, Canada. The company was incorporated in 1996 and is headquartered in Perth, Australia.

Current Price: $1.96
Consensus Rating: Sell
Ratings Breakdown: 0 Buy Ratings, 0 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: N/A