Atlas LithiumNASDAQ: ATLX

The average of price targets set by Wall Street analysts indicates a potential upside of 246.3% in Atlas Lithium Corporation (ATLX). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Atlas Lithium Corporation has secured $50 million in investments and is set to begin production next year. The company operates in Brazil and has two key projects: the Minas Gerais Lithium Project and the Northeastern Brazil Lithium Project. The demand for lithium is expected to steadily increase, and ATLX is well-positioned to be a major supplier in the Brazilian market.

(Kitco News) - Shares of lithium developer Atlas Lithium (NASDAQ: ATLX) closed 12.5% higher today after the company announced it is fully funded to first production at the Neves lithium project in Brazil.

The appeal of lithium stocks is obvious, given the critical mass reached in EV sales. Manufacturers are bound to require ever more significant volumes of the necessary lithium to produce EV batteries.

Atlas Lithium, a mineral exploration company, has received $20 million in non-dilutive funding from Lithium Royalty Corporation, enabling it to fund its planned drilling campaign. ATLX holds the largest portfolio of exploration properties for battery minerals in Brazil and plans to develop a processing facility producing 150,000 tons of lithium concentrate per year. Investing in Atlas Lithium is risky, but once it starts producing lithium, the stock price may soar, making it a buy for those willing to take the risk.

Atlas Lithium updated investors on the progress of its project: drilling for lithium in Brazil. Atlas keeps finding lithium in Brazil -- but keeps needing more money to drill for it.

Atlas Lithium reported lithium test results at the Neves project that exceed the company's target. An analyst upwardly revised the price target on Atlas Lithium's stock based on the test results.