When considering new stock purchases, investors often find themselves choosing between companies that offer great growth opportunities or procuring passive income. To have both options in a single investment, though, is not an opportunity that comes along very often.

But that's exactly what (NYSE: ALB) offers right now. Shares of Albemarle, a leading lithium producer, are attractive for a variety of reasons, including the fact that the stock is hanging on the discount rack. Undeniably, this is one premier stock that's not to be missed.

Tracing its origin story back to 1887, Albemarle has emerged as a leader in lithium production. In addition to lithium resources located in the United States, Chile, Argentina, and Australia, the company operates lithium production facilities in North South America, Asia, and Australia. Clearly, the company's geographic footprint is considerable.

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Source Fool.com