Core Lithium share price leaps higher for first time in 5 trading sessions

The Core Lithium Ltd (ASX: CXO) share price is back on form at last.

In morning trade, the lithium miner’s shares are up over 4% to $1.46.

This will be a welcome relief to shareholders which have watched Core Lithium’s shares record declines during the last five sessions.

Why is the Core Lithium share price rising?

Investors have been buying the company’s shares today despite there being no news out of it.

Though, it is worth noting that the Core Lithium share price isn’t the only one in the lithium industry that is rising today.

Here’s a quick summary of how other ASX lithium shares are performing:

• Allkem Ltd (ASX: AKE) shares are up 3%
• Lake Resources N.L. (ASX: LKE) shares are up 3%
• Liontown Resources Ltd (ASX: LTR) shares are up 4.5%
• Pilbara Minerals Ltd (ASX: PLS) shares are up 2%

Can Core Lithium shares keep rising?

While analysts at Macquarie currently only have a neutral rating on the company’s shares, their price target of $1.80 is notably higher than where they trade today.

In fact, based on where Core Lithium’s shares trade today, this price target implies potential upside of 23% for investors over the next 12 months. Not bad for a neutral rating!

The post Core Lithium share price leaps higher for first time in 5 trading sessions appeared first on The Motley Fool Australia.

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More reading

• Ballin’ on a budget: The best ASX shares to buy for under $5
• Did the Core Lithium chair really just offload $1 million of his shares?
• IGO shares dip as investors hear of ‘a pipeline of growth opportunities’ at AGM
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Core Lithium, Creso Pharma, Nickel Industries, and Perpetual shares are dropping

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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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