A broad-based selloff in lithium mining stocks could spark interest among risk-hungry investors, with Credit Suisse talking up a buying opportunity in Pilbara Minerals. The sector is down by an average 15-20% over the past month, reflecting concern over rising supply and implications for sale prices. China spot prices have been on the wane, yet producers are telling a different story on contract prices that are stable or rising. Credit Suisse also notes "positive sentiment in price negotiations with quality, battery grade convertible material remaining in strong demand." It has an outperform call on Pilbara Minerals, which is down 1.8% today and trading near lows last seen in October.
Positive Credit Suisse commentary
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$3.10 |
Change
-0.100(3.13%) |
Mkt cap ! $9.360B | |||
| Open | High | Low | Value | Volume |
| $3.15 | $3.17 | $3.09 | $51.78M | 16.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 49 | 303345 | $3.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.10 | 32309 | 20 |
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| PLS (ASX) Chart |