Why the Orocobre (ASX:ORE) share price is up 6% to a record high today

It has been another great day for Orocobre's shares…

| More on:
A man takes his dividend and leaps for joy.

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

The Orocobre Limited (ASX: ORE) share price has been a strong performer on Tuesday.

In morning trade, the lithium miner's shares are up 6.5% to a record high of $10.08.

Why is the Orocobre share price at a record high?

The catalyst for the rise in Orocobre share price today appears to have been the release of its annual general meeting update.

While the event didn't contain a great deal of new information, there were a couple of items that may have got investors excited.

The first is the outlook for lithium supply and demand. The company expects lithium demand to grow materially through to 2040 due to electric vehicle adoption and the global transition to carbon neutrality.

This is expected to lead to a widening deficit over the next two decades, with demand predicted to be more than twice as great as supply by 2040. As a result, the presentation reveals that analysts at Roskill are predicting that this will keep prices at sky high levels long into the future.

What else did the company reveal?

Also potentially giving the Orocobre share price a boost was commentary on current pricing.

The release notes that the company's Mt Cattlin operation continues to experience strong demand and pricing momentum. So much so, the average price for the December quarter is estimated to be $1,650 per tonne for 6.0% Li2O. This is almost double the September quarterly average.

It was a similar story for its Olaroz brine operation, which has revised its December quarter pricing upwards to US$12,000 per tonne.

Is the Orocobre share price in the buy zone?

One broker that is bullish on the Orocobre share price is Citi.

While it has yet to respond to its annual general meeting update, it currently has a buy rating and $11.00 price target on its shares. This implies further potential upside of 9% for Orocobre's shares.

Should you invest $1,000 in Tinybeans Group Limited right now?

Before you buy Tinybeans Group Limited shares, consider this:

Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Tinybeans Group Limited wasn't one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

And right now, Scott thinks there are 5 stocks that may be better buys...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro owns shares of Orocobre 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 Bruce Jackson.

More on Share Gainers

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Boss Energy, Capstone, Dimerix, and Platinum shares are storming higher today

These shares are having a good finish to the week. Let's find out why.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

These shares are having a good session on hump day. But why?

Read more »