5 ASX lithium shares to buy next week

Analysts think these could be the shares to buy if you want exposure to lithium.

| More on:
A group of people in suits and hard hats celebrate the rising share price with champagne.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're wanting to add some lithium exposure to your portfolio, then read on.

That's because listed below are five ASX lithium shares that have been rated as buys recently.

Here's what analysts are saying about them:

Allkem Ltd (ASX: AKE)

Goldman Sachs is a big fan of lithium giant Allkem. Even though the broker believes that lithium prices have further to fall, it remains bullish on this lithium miner due to its significant production growth plans. It has a buy rating and a $10.90 price target, which implies a 29% upside from current levels.

Delta Lithium Ltd (ASX: DLI)

Delta Lithium is the lithium explorer behind the Mt Ida Lithium Project in Western Australia. It counts Mineral Resources and Gina Rinehart as major shareholders. Bell Potter is extremely bullish on this ASX lithium share. It has a speculative buy rating and a $1.35 price target on its shares. This compares very favourably to its current share price of 48.5 cents.


This lithium miner also has Goldman Sachs as a fan. It has a buy rating and a $10.60 price target on its shares. This suggests a potential upside of 21% for investors over the next 12 months. The broker likes IGO partly because of its Greenbushes operation. It highlights that "Greenbushes [is] the lowest cost Australian spodumene producer and one of the lower cost in the broader market."

Mineral Resources Ltd (ASX: MIN)

Another ASX lithium share that has been given the thumbs up recently is Mineral Resources. Morgans is a fan of the company. So much so, that it has the company on its best ideas list. It sees "MIN as well placed to grow into its valuation, even if we see unexpected metal price volatility, given the magnitude of organic growth in the pipeline." Morgans has an add rating and $83 price target, which suggests a 30% upside for investors.

Pilbara Minerals Ltd (ASX: PLS)

Analysts at Macquarie continue to see Pilbara Minerals as an ASX lithium share to buy. Particularly given its strong balance sheet, high-quality asset base, and track record of project execution. Speaking of which, the broker was also pleased to see management confirm last week that its P680 and P1000 projects remain on time and on budget. Macquarie has an outperform rating and $7.10 price target on its shares. This is almost double the current Pilbara Minerals share price of $3.64.

Motley Fool contributor James Mickleboro has positions in Allkem. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Materials Shares

Miner looking at a tablet.
Earnings Results

Rio Tinto share price on watch following FY 2023 earnings miss

Rio Tinto's iron ore operations were on form in 2023. It's a shame the rest of the business wasn't.

Read more »

Three builders analyse their blueprints on site representing the growth in the Johns Lyng share price
Materials Shares

CSR shares rocketed 17% before trading halt on acquisition speculation

Excitement is building about a potential takeover deal.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Materials Shares

2 ASX lithium shares 'well placed to ride out near-term volatility'

With ASX lithium stocks under pressure, these experts point to two lithium miners that are well positioned to ride out…

Read more »

a man sits back from his laptop computer with both hands behind his head feeling happy to see the Brambles share price moving significantly higher today
Materials Shares

How ASX uranium shares like Paladin are 'in a great position to capitalise'

This expert is still buying uranium shares.

Read more »

a miner wearing a hard hat smiles as he stands in front of heavy earth moving equipment on a barren mine site.
Materials Shares

Should you buy BHP shares following the miner's half-year results?

Should you be snapping up this mining giant's shares? Here's what this broker thinks.

Read more »

Woman standing in front of a wind farm.
Materials Shares

Rio Tinto shares tumble despite massive renewable power agreement

Rio Tinto will be harnessing the wind to power some of its operations.

Read more »

A businesswoman ponders why her boat is sinking in the ocean.
Materials Shares

Down 7%: What's gone so wrong for Lake Resources shares today?

Lake Resources shares have been put out to dry today.

Read more »

A young man in a blue suit sits on his desk cross-legged with his phone in his hand looking slightly crazed.
Share Fallers

Down 76% in a year, why is the Core Lithium share price getting smashed again today?

Core Lithium and rival ASX 200 lithium miners are deep in the red on Tuesday.

Read more »