This Mining Giant is Going All-In by Buying this Lithium Stock
If you want to invest in lithium, don't buy FMC stock. Buy Rio Tinto Group instead.
Once upon a time, FMC Corporation (NYSE: FMC) stock was a lithium stock. It isn't anymore, hasn't been for years, and its poor showing earlier this month, when weaker than expected sales resulted in a big (74%) decline in reported profit, may highlight the risk of abandoning diversification and focusing too exclusively on just one sector (agricultural chemicals).
But what ever happened to FMC's lithium business, anyway? And where is it now? That's the story I want to tell today, for anyone who may have missed it at the time, and for anyone who might be interested in buying one of the best lithium growth stories of the next few years.
As recently as 2018, FMC was one of the world's biggest lithium stocks. It had built its lithium business over the course of more than four decades, and alongside Sociedad Química y Minera de Chile and Albemarle, ranked among the three biggest publicly traded producers of lithium for electric car batteries.
