3 Best ASX Lithium Stocks to Watch for Their Next Big Move

Lithium is positioned as a key commodity in the global energy transition, driven by its critical role in batteries, electric vehicles and energy storage.

For investors looking for the best ASX lithium stocks to buy, companies such as PLS, LTR and CXO offer exposure to different stages of Australia’s evolving lithium supply chain.

1. PLS Group Limited (ASX: PLS)

PLS Group Limited (ASX: PLS), on 24 August 2026, announced its June-ending FY26 results, reporting record growth as revenue improved by 152% to $1.9 billion.

Underlying EBITDA also grew by around 1,000% to $1.13 billion, reflecting a major turnaround in management’s operational efficiency.

Production for the year improved by 17% to 879.5 kt, with sales of 891.6 kt. The realised selling price more than doubled to $2,164/t.

The company shifted from defensive positioning to a focus on growth following the increase in commodity prices and improved market sentiment. This also resulted in the decision to restart the Ngungaju processing plant and an update to the study timelines for the P2000 and Colina projects.

Feasibility studies for the P2000 and Colina projects also progressed during the year, with P2000 receiving approval for $175 million of pre-FID expenditure in June.

The company has a market capitalisation of around $13.32 billion and had also announced a fully franked final dividend payout of 5cps, to be paid on 24 September, indicating improved management confidence in its operations.

Looking ahead, the company aims to expand its scale of operations while maximising production and cash generation from its various projects. It also provided increased production guidance, with an expected decrease in costs and almost doubling the capex in FY27, positioning it for future growth.

2. Liontown Limited (ASX: LTR)

Liontown Limited (ASX: LTR), on 1 September 2026, executed a binding farm-in agreement with Next Lithium Corporation to earn up to a 100% interest in the Centenario Lithium brine exploration project, located in Salta Province of Argentina.

The agreement provides a low-cost entry to a strategic landholding in Argentina, offering complementary growth potential to its established hard-rock Kathleen Valley operations in Western Australia.

Earlier, on 31 August, the company announced its FY26 results, reporting revenue growth of 115% to $639 million. Its average realised price also increased by 75%, from US$788/dmt to US$1,379/dmt.

Concentrate production remained at 391,997 dmt, with shipments of around 381,907 dmt during the year.

The company has a market capitalisation of approximately $3.35 billion and delivered its FY26 guidance while also transitioning Kathleen Valley to a 100% underground operation, concluding open-pit mining on schedule.

The outlook for FY27 remains focused on planning the underground ramp-up and remaining on track to reach 2.8 Mtpa by the end of FY27.

The company also remains focused on expanding its operations and equipment to achieve the extended run rate. Its FID on the Kathleen Valley expansion is also due in September, providing a major near-term catalyst.

3. Core Lithium Limited (ASX: CXO)

Core Lithium Limited (ASX: CXO), on 8 September 2026, reported the production of its first spodumene concentrate at the Finniss processing plant.

This occurred within six months of the Final Investment Decision (FID), marking a key milestone in the restart of the Finniss lithium operation.

The company also sold its remaining ~25 kt of lithium DSO from the existing Finniss fines stockpile to Glencore International AG at a base price of $400/t, leading to incremental revenue of $38.5 million from total lithium sales in 2026.

The company had also earlier announced that it received high-grade lithium results from extensional drilling at the BP33 project, with an additional four holes planned to target extensions to the mineralisation.

Core Lithium has a market capitalisation of $1.21 billion and has made significant progress in recent months while planning to extend its drilling operations further at Finniss and BP33.

Looking ahead, the company is focusing on shipment of its spodumene concentrate by the December quarter, with continuous production and shipments expected to continue in 2027.

Source: Company announcements