The Galaxy Resources Limited (ASX:GXY) share price is up 5%

The Galaxy Resources Limited (ASX: GXY) share price has risen 4.7% to $2.74c per share at the time of writing as the global lithium company continues on its share price recovery after bottoming out in late October.

The rally could have something to do with Morgan Stanley upgrading the share to an overweight rating and increasing its price target to $2.90 this week.

Galaxy’s September quarter results revealed solid production from its Mt Cattlin operations with Galaxy’s cash reserves looking healthy following the sale of its Sal de Vida tenements.

Elsewhere in the sector, the Orocobre Limited (ASX: ORE) share price is also on the rise today, up 1% to $4.36 while another lithium peer, Pilbara Minerals Ltd’s (ASX: PLS) share price is down slightly to 84c per share.

Some more speculative stocks to watch with lithium interests include Argosy Minerals Limited (ASX: AGY) and Altura Mining Ltd (ASX: AJM) which went into a voluntary trading halt today pending an announcement.

Lithium could be a real game changer in the resources space. But sector disruption is good. Check out these 3 Revolutionary Aussie Companies to Back for 2018

We’re living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That’s why at The Motley Fool we’ve been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Atlassian.

We’ve found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.