If I’d bought $1,000 of Lake Resources shares a year ago, I’d be one happy investor today

Lake Resources N.L. (ASX: LKE) shares have been up and down in the past year. But overall, they have soared ahead.

Lake shares have risen nearly 68% from 64 cents at market close on 19 October 2021 to $1.075 at market close yesterday.

So if I had invested $1,000 in this ASX lithium share 52 weeks ago, how much would I have now?

Is the Lake Resources share price a good investment?

Imagine if I had invested $1,000 in Lake Resources shares at 64 cents a year ago. I would have pocketed 1,562 shares with 32 cents left over.

Now, the Lake Resources share price is fetching $1.075. So my investment would be worth $1,679.15.

Taking a look at the year in more detail, the Lake Resources share price hit a high of $2.45 on 4 April this year.

At this time, my $1,000 investment would have been looking very good. I would have had $3,826.90.

However, on 14 July, Lake Resources shares were fetching just 60.5 cents a piece. At this point, I would have been behind, with $945.01 left from my $1,000 investment.

Overall, if I had bought $1,000 Lake Resources shares a year ago and held onto the shares through the highs and lows, I would be happy with my investment.

What else is happening?

Earlier this week, Lake advised it has created a new role on its executive team. Scott Munro will take on the position of senior vice president, technology, strategy and risk.

Commenting on this appointment, executive chairman Stuart Crow said:

This role will lead technology engagement for the company as it transitions towards development of resources and will support the continuing evolution of Strategy and Risk processes in support of long-term value creation for stakeholders.

This is part of Lake’s aspirational target to produce 100,000 tpa of high purity lithium; underpinning Lake’s aim to become a leading lithium producer globally.

Lake Resources has also recently signed an offtake agreement with SK On for supply of up to 25,000 tpa [tonnes per annum] of battery-grade lithium from the Kachi Project in Argentina.

Lake Resources share price snapshot

Lake Resources shares have climbed 6.44% in the year to date, while they have risen 2.87% in the past month.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has shed 8.66% in the year to date.

Lake has a market capitalisation of nearly $1.5 billion based on the current share price.

The post If I’d bought $1,000 of Lake Resources shares a year ago, I’d be one happy investor today appeared first on The Motley Fool Australia.

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More reading

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Motley Fool contributor Monica O’Shea 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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