Intrinsic value of Albemarle - ALB

Previous Close

$97.06

  Intrinsic Value

$92.18

stock screener

  Rating & Target

hold

-5%

Previous close

$97.06

 
Intrinsic value

$92.18

 
Up/down potential

-5%

 
Rating

hold

We calculate the intrinsic value of ALB stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.80
  13.82
  12.94
  12.14
  11.43
  10.79
  10.21
  9.69
  9.22
  8.80
  8.42
  8.08
  7.77
  7.49
  7.24
  7.02
  6.82
  6.63
  6.47
  6.32
  6.19
  6.07
  5.97
  5.87
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
Revenue, $m
  3,527
  4,014
  4,533
  5,084
  5,665
  6,276
  6,917
  7,587
  8,286
  9,015
  9,774
  10,563
  11,384
  12,236
  13,123
  14,044
  15,001
  15,996
  17,031
  18,108
  19,229
  20,397
  21,614
  22,882
  24,205
  25,585
  27,027
  28,532
  30,105
  31,749
Variable operating expenses, $m
  2,287
  2,575
  2,882
  3,207
  3,550
  3,911
  4,290
  4,686
  5,099
  5,530
  5,775
  6,241
  6,726
  7,230
  7,754
  8,298
  8,863
  9,451
  10,063
  10,699
  11,362
  12,052
  12,770
  13,520
  14,302
  15,117
  15,969
  16,858
  17,788
  18,759
Fixed operating expenses, $m
  487
  498
  509
  520
  532
  544
  555
  568
  580
  593
  606
  619
  633
  647
  661
  676
  691
  706
  721
  737
  753
  770
  787
  804
  822
  840
  858
  877
  897
  916
Total operating expenses, $m
  2,774
  3,073
  3,391
  3,727
  4,082
  4,455
  4,845
  5,254
  5,679
  6,123
  6,381
  6,860
  7,359
  7,877
  8,415
  8,974
  9,554
  10,157
  10,784
  11,436
  12,115
  12,822
  13,557
  14,324
  15,124
  15,957
  16,827
  17,735
  18,685
  19,675
Operating income, $m
  752
  941
  1,142
  1,356
  1,583
  1,821
  2,071
  2,333
  2,607
  2,892
  3,393
  3,703
  4,025
  4,360
  4,708
  5,070
  5,447
  5,839
  6,247
  6,672
  7,114
  7,575
  8,056
  8,558
  9,081
  9,628
  10,199
  10,796
  11,421
  12,074
EBITDA, $m
  1,459
  1,718
  1,993
  2,286
  2,596
  2,921
  3,263
  3,621
  3,994
  4,384
  4,790
  5,212
  5,651
  6,108
  6,583
  7,077
  7,591
  8,125
  8,681
  9,259
  9,862
  10,490
  11,145
  11,828
  12,540
  13,284
  14,062
  14,874
  15,723
  16,611
Interest expense (income), $m
  97
  101
  135
  170
  208
  248
  291
  335
  382
  431
  482
  535
  591
  649
  709
  771
  836
  903
  973
  1,045
  1,121
  1,200
  1,282
  1,367
  1,456
  1,549
  1,645
  1,746
  1,851
  1,961
  2,076
Earnings before tax, $m
  651
  806
  972
  1,148
  1,334
  1,530
  1,736
  1,951
  2,176
  2,410
  2,857
  3,112
  3,376
  3,651
  3,937
  4,235
  4,544
  4,866
  5,201
  5,551
  5,914
  6,294
  6,689
  7,102
  7,533
  7,983
  8,453
  8,945
  9,459
  9,998
Tax expense, $m
  176
  218
  263
  310
  360
  413
  469
  527
  587
  651
  772
  840
  912
  986
  1,063
  1,143
  1,227
  1,314
  1,404
  1,499
  1,597
  1,699
  1,806
  1,918
  2,034
  2,155
  2,282
  2,415
  2,554
  2,699
Net income, $m
  475
  589
  710
  838
  974
  1,117
  1,267
  1,424
  1,588
  1,759
  2,086
  2,271
  2,465
  2,665
  2,874
  3,091
  3,317
  3,552
  3,797
  4,052
  4,318
  4,594
  4,883
  5,184
  5,499
  5,828
  6,171
  6,530
  6,905
  7,298

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  8,906
  10,136
  11,448
  12,838
  14,306
  15,849
  17,467
  19,159
  20,925
  22,765
  24,682
  26,675
  28,747
  30,900
  33,138
  35,463
  37,881
  40,394
  43,008
  45,727
  48,559
  51,507
  54,580
  57,783
  61,123
  64,610
  68,249
  72,051
  76,023
  80,175
Adjusted assets (=assets-cash), $m
  8,906
  10,136
  11,448
  12,838
  14,306
  15,849
  17,467
  19,159
  20,925
  22,765
  24,682
  26,675
  28,747
  30,900
  33,138
  35,463
  37,881
  40,394
  43,008
  45,727
  48,559
  51,507
  54,580
  57,783
  61,123
  64,610
  68,249
  72,051
  76,023
  80,175
Revenue / Adjusted assets
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
  0.396
Average production assets, $m
  5,040
  5,736
  6,478
  7,265
  8,095
  8,969
  9,884
  10,842
  11,841
  12,883
  13,967
  15,095
  16,267
  17,486
  18,752
  20,068
  21,436
  22,858
  24,337
  25,876
  27,478
  29,147
  30,886
  32,698
  34,589
  36,562
  38,621
  40,772
  43,020
  45,370
Working capital, $m
  201
  229
  258
  290
  323
  358
  394
  432
  472
  514
  557
  602
  649
  697
  748
  800
  855
  912
  971
  1,032
  1,096
  1,163
  1,232
  1,304
  1,380
  1,458
  1,541
  1,626
  1,716
  1,810
Total debt, $m
  2,446
  3,093
  3,783
  4,514
  5,286
  6,098
  6,949
  7,839
  8,768
  9,736
  10,744
  11,792
  12,882
  14,015
  15,192
  16,415
  17,687
  19,009
  20,384
  21,814
  23,303
  24,854
  26,470
  28,155
  29,913
  31,746
  33,661
  35,660
  37,750
  39,934
Total liabilities, $m
  4,684
  5,332
  6,022
  6,753
  7,525
  8,336
  9,187
  10,077
  11,006
  11,975
  12,983
  14,031
  15,121
  16,253
  17,431
  18,654
  19,925
  21,247
  22,622
  24,053
  25,542
  27,093
  28,709
  30,394
  32,151
  33,985
  35,899
  37,899
  39,988
  42,172
Total equity, $m
  4,221
  4,805
  5,426
  6,085
  6,781
  7,512
  8,279
  9,081
  9,918
  10,791
  11,699
  12,644
  13,626
  14,647
  15,707
  16,810
  17,955
  19,147
  20,386
  21,675
  23,017
  24,414
  25,871
  27,389
  28,973
  30,625
  32,350
  34,152
  36,035
  38,003
Total liabilities and equity, $m
  8,905
  10,137
  11,448
  12,838
  14,306
  15,848
  17,466
  19,158
  20,924
  22,766
  24,682
  26,675
  28,747
  30,900
  33,138
  35,464
  37,880
  40,394
  43,008
  45,728
  48,559
  51,507
  54,580
  57,783
  61,124
  64,610
  68,249
  72,051
  76,023
  80,175
Debt-to-equity ratio
  0.580
  0.640
  0.700
  0.740
  0.780
  0.810
  0.840
  0.860
  0.880
  0.900
  0.920
  0.930
  0.950
  0.960
  0.970
  0.980
  0.990
  0.990
  1.000
  1.010
  1.010
  1.020
  1.020
  1.030
  1.030
  1.040
  1.040
  1.040
  1.050
  1.050
Adjusted equity ratio
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474
  0.474

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  475
  589
  710
  838
  974
  1,117
  1,267
  1,424
  1,588
  1,759
  2,086
  2,271
  2,465
  2,665
  2,874
  3,091
  3,317
  3,552
  3,797
  4,052
  4,318
  4,594
  4,883
  5,184
  5,499
  5,828
  6,171
  6,530
  6,905
  7,298
Depreciation, amort., depletion, $m
  707
  777
  851
  930
  1,013
  1,100
  1,192
  1,287
  1,387
  1,491
  1,397
  1,509
  1,627
  1,749
  1,875
  2,007
  2,144
  2,286
  2,434
  2,588
  2,748
  2,915
  3,089
  3,270
  3,459
  3,656
  3,862
  4,077
  4,302
  4,537
Funds from operations, $m
  1,183
  1,365
  1,561
  1,768
  1,987
  2,217
  2,459
  2,712
  2,976
  3,251
  3,483
  3,781
  4,091
  4,414
  4,749
  5,098
  5,461
  5,838
  6,231
  6,640
  7,065
  7,509
  7,972
  8,454
  8,958
  9,484
  10,033
  10,607
  11,207
  11,835
Change in working capital, $m
  26
  28
  30
  31
  33
  35
  37
  38
  40
  42
  43
  45
  47
  49
  51
  52
  55
  57
  59
  61
  64
  67
  69
  72
  75
  79
  82
  86
  90
  94
Cash from operations, $m
  1,157
  1,338
  1,531
  1,737
  1,954
  2,182
  2,422
  2,673
  2,936
  3,209
  3,439
  3,736
  4,044
  4,365
  4,699
  5,046
  5,406
  5,781
  6,172
  6,578
  7,001
  7,443
  7,902
  8,382
  8,883
  9,405
  9,951
  10,521
  11,118
  11,741
Maintenance CAPEX, $m
  -439
  -504
  -574
  -648
  -726
  -810
  -897
  -988
  -1,084
  -1,184
  -1,288
  -1,397
  -1,509
  -1,627
  -1,749
  -1,875
  -2,007
  -2,144
  -2,286
  -2,434
  -2,588
  -2,748
  -2,915
  -3,089
  -3,270
  -3,459
  -3,656
  -3,862
  -4,077
  -4,302
New CAPEX, $m
  -650
  -696
  -742
  -787
  -830
  -873
  -916
  -957
  -999
  -1,042
  -1,084
  -1,128
  -1,173
  -1,219
  -1,266
  -1,316
  -1,368
  -1,422
  -1,479
  -1,539
  -1,602
  -1,669
  -1,739
  -1,813
  -1,891
  -1,973
  -2,060
  -2,151
  -2,248
  -2,350
Cash from investing activities, $m
  -1,089
  -1,200
  -1,316
  -1,435
  -1,556
  -1,683
  -1,813
  -1,945
  -2,083
  -2,226
  -2,372
  -2,525
  -2,682
  -2,846
  -3,015
  -3,191
  -3,375
  -3,566
  -3,765
  -3,973
  -4,190
  -4,417
  -4,654
  -4,902
  -5,161
  -5,432
  -5,716
  -6,013
  -6,325
  -6,652
Free cash flow, $m
  68
  137
  215
  302
  397
  500
  610
  727
  852
  984
  1,067
  1,211
  1,362
  1,520
  1,684
  1,854
  2,032
  2,216
  2,407
  2,605
  2,812
  3,026
  3,249
  3,481
  3,722
  3,973
  4,235
  4,508
  4,793
  5,090
Issuance/(repayment) of debt, $m
  609
  647
  690
  731
  772
  812
  851
  890
  929
  968
  1,008
  1,048
  1,090
  1,133
  1,177
  1,223
  1,271
  1,322
  1,375
  1,431
  1,489
  1,551
  1,616
  1,685
  1,757
  1,834
  1,914
  2,000
  2,089
  2,184
Issuance/(repurchase) of shares, $m
  71
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  680
  647
  690
  731
  772
  812
  851
  890
  929
  968
  1,008
  1,048
  1,090
  1,133
  1,177
  1,223
  1,271
  1,322
  1,375
  1,431
  1,489
  1,551
  1,616
  1,685
  1,757
  1,834
  1,914
  2,000
  2,089
  2,184
Total cash flow (excl. dividends), $m
  748
  785
  905
  1,033
  1,169
  1,311
  1,461
  1,618
  1,781
  1,952
  2,075
  2,260
  2,452
  2,653
  2,861
  3,078
  3,303
  3,538
  3,782
  4,036
  4,301
  4,577
  4,865
  5,166
  5,479
  5,807
  6,150
  6,508
  6,882
  7,274
Retained Cash Flow (-), $m
  -546
  -583
  -622
  -659
  -696
  -731
  -767
  -802
  -837
  -872
  -908
  -945
  -982
  -1,021
  -1,061
  -1,102
  -1,146
  -1,191
  -1,239
  -1,289
  -1,342
  -1,398
  -1,456
  -1,518
  -1,584
  -1,652
  -1,725
  -1,802
  -1,883
  -1,968
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  18
  21
  24
  27
  31
  34
  38
  42
  46
  50
  54
  59
  63
  68
  73
  79
  84
  90
  96
  102
  109
  115
  122
  130
  137
  145
  154
  162
  171
  181
Cash available for distribution, $m
  201
  201
  284
  374
  473
  580
  694
  815
  944
  1,079
  1,166
  1,315
  1,470
  1,632
  1,800
  1,975
  2,157
  2,346
  2,543
  2,747
  2,959
  3,179
  3,409
  3,647
  3,896
  4,155
  4,424
  4,706
  4,999
  5,306
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  193
  184
  247
  308
  367
  421
  469
  510
  542
  566
  554
  561
  559
  548
  529
  502
  469
  432
  392
  349
  306
  264
  223
  186
  152
  121
  95
  73
  55
  40
Current shareholders' claim on cash, %
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3
  99.3

Albemarle Corporation is a global developer, manufacturer and marketer of highly-engineered specialty chemicals. The Company operates through three segments: Lithium and Advanced Materials, Bromine Specialties and Refining Solutions. Lithium and Advanced Materials segment consist of two product categories: Lithium and Performance Catalyst Solutions. The bromine and bromine-based business includes products used in fire safety solutions and other specialty chemicals applications. The Company serves various end markets, including petroleum refining, consumer electronics, energy storage, construction, automotive, lubricants, pharmaceuticals, crop protection, food safety and custom chemistry services. As of December 31, 2016, the Company and its joint ventures operated 31 production and research and development (R&D) facilities, as well as a number of administrative and sales offices, around the world.

FINANCIAL RATIOS  of  Albemarle (ALB)

Valuation Ratios
P/E Ratio 17
Price to Sales 4.1
Price to Book 2.9
Price to Tangible Book
Price to Cash Flow 14.9
Price to Free Cash Flow 20.4
Growth Rates
Sales Growth Rate -5.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -13.6%
Cap. Spend. - 3 Yr. Gr. Rate 4.9%
Financial Strength
Quick Ratio 9
Current Ratio 0
LT Debt to Equity 55.9%
Total Debt to Equity 62.4%
Interest Coverage 6
Management Effectiveness
Return On Assets 8.1%
Ret/ On Assets - 3 Yr. Avg. 6.1%
Return On Total Capital 9.7%
Ret/ On T. Cap. - 3 Yr. Avg. 6.5%
Return On Equity 18.3%
Return On Equity - 3 Yr. Avg. 13.9%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 36.3%
Gross Margin - 3 Yr. Avg. 32.7%
EBITDA Margin 31.3%
EBITDA Margin - 3 Yr. Avg. 23.8%
Operating Margin 21.4%
Oper. Margin - 3 Yr. Avg. 14.9%
Pre-Tax Margin 19.2%
Pre-Tax Margin - 3 Yr. Avg. 13%
Net Profit Margin 24.1%
Net Profit Margin - 3 Yr. Avg. 13.8%
Effective Tax Rate 18.6%
Eff/ Tax Rate - 3 Yr. Avg. 10.2%
Payout Ratio 21%

ALB stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ALB stock intrinsic value calculation we used $3072 million for the last fiscal year's total revenue generated by Albemarle. The default revenue input number comes from 2017 income statement of Albemarle. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ALB stock valuation model: a) initial revenue growth rate of 14.8% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for ALB is calculated based on our internal credit rating of Albemarle, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Albemarle.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ALB stock the variable cost ratio is equal to 65.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $477 million in the base year in the intrinsic value calculation for ALB stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.5% for Albemarle.

Corporate tax rate of 27% is the nominal tax rate for Albemarle. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ALB stock is equal to 0.6%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ALB are equal to 142.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Albemarle operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ALB is equal to 5.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $3675 million for Albemarle - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 111 million for Albemarle is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Albemarle at the current share price and the inputted number of shares is $10.8 billion.

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COMPANY NEWS

▶ Albemarle considers reopening lithium mine in Charlotte region   [11:41AM  American City Business Journals]
▶ Stocks Dip On Trade War Chatter; CVS Health Backstops S&P 500   [09:35AM  Investor's Business Daily]
▶ Albemarle: 2Q Earnings Snapshot   [04:40PM  Associated Press]
▶ 3 Great Stocks You Can Buy on Sale   [06:07AM  Motley Fool]
▶ 10 Lithium Stocks to Buy Despite the Markets Irrationality   [Aug-02-18 10:43AM  InvestorPlace]
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▶ Why There Wont Be An OPEC For Battery Metals   [Jun-16-18 07:00PM  Oilprice.com]
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▶ These Stocks May Be About to Change Direction   [May-21-18 03:00PM  TheStreet.com]
▶ The Lithium Cartel Should Be Stopped   [May-18-18 05:16AM  Bloomberg]
▶ Albemarle: 1Q Earnings Snapshot   [May-09-18 04:33PM  Associated Press]
▶ Albemarle Corporation Announces Quarterly Dividend   [May-08-18 06:45AM  PR Newswire]
▶ Is Lithium Stock Albemarle Corporation a Buy?   [May-01-18 07:47AM  Motley Fool]
▶ Albemarle Stock Upgraded: What You Need to Know   [Apr-13-18 12:59PM  Motley Fool]
▶ 3 High-Growth Stocks That Could Soar   [Apr-06-18 09:39AM  Motley Fool]
▶ FMC Corp.'s Lithium Business and Outlook   [Mar-21-18 09:47AM  Motley Fool]
▶ The Long-Term View On Lithium   [Mar-19-18 07:47AM  Benzinga]
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