4 ASX lithium shares hitting all-time highs on Thursday

It’s a good day on the market for ASX lithium shares, and four, in particular, are making the most of it.

They have surged as much as 45% today to hit new record highs.

So, without further ado, let’s take a look at the lithium shares outperforming on Thursday.

4 ASX lithium shares hitting record highs today

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price surged to peak at $4.22 today – marking a 6.8% gain and a new record high.

Interestingly, there’s been no news from the S&P/ASX 200 Index (ASX: XJO) share today. Though, earlier this week top broker JP Morgan reportedly upped its price target for the stock to $4.10.

It’s also only a few weeks since the company posted its maiden profit. It raked in $561.8 million in financial year 2022.

Allkem Ltd (ASX: AKE)

Another ASX 200 lithium share surging to new heights on Thursday is Allkem. The stock lifted 6.7% at its intraday high to hit $15.02.

The company – previously known as Orocobre – was renamed shortly after its merger with Galaxy Resources.

It posted record production and US$770 million of revenue for financial year 2022 late last month.

Leo Lithium Ltd (ASX: LLL)

The Leo Lithium share price also roared to its highest point since hitting the ASX earlier today. The stock peaked at 62.5 cents on Thursday – marking a 6.8% gain.

However, investors who jumped on board the company during its initial public offering (IPO) might be holding out for more.

The company floated on the ASX in June following its spinout from Firefinch Ltd (ASX: FFX).

As part of its IPO, it raised $100 million by selling stock for 70 cents apiece. It also handed out one new share in Leo Lithium to every investor holding 1.4 shares in its parent company.

Anson Resources Ltd (ASX: ASN)

The final ASX lithium share to hit an all-time high on Thursday is Anson Resources. Its share price launched a whopping 46% higher to peak at 43 cents mid-afternoon.

Its gain follows news of the company’s Paradox Lithium Project.

The project’s definitive feasibility study has confirmed its “outstanding economics” and potential to be a major source of lithium for US markets.  

The post 4 ASX lithium shares hitting all-time highs on Thursday appeared first on The Motley Fool Australia.

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More reading

• Why is the Lake Resources share price leaping 10% on Thursday?
• 3 ASX mining shares soaring more than 20% today
• Why are ASX lithium stocks having such a stellar run today?
• ‘Outstanding economics’: Anson Resources share price rockets 35% on lithium news
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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