SQM Stock Recent News

Lithium prices may be bottoming out, creating a big opportunity for some of the top lithium stocks to buy now. For one, analysts at UBS and Goldman Sachs just cut their 2024 supply estimates by 33% and 26%, respectively, says Mining.com.

Of the few significant trends driving investor—and Wall Street—interest today is the race for electric vehicle (E.V.) domination.

The mean of analysts' price targets for SQM (SQM) points to a 26.6% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

The electric vehicle industry has had a difficult year. Valuations have tumbled as investors have begun to ask more questions about long-term pricing and competition within the industry.

The latest trading day saw SQM (SQM) settling at $48.99, representing a -0.35% change from its previous close.

Sociedad Quimica's (SQM) fourth-quarter results were hurt by lower average sales prices in the lithium business.

Lithium stocks are primed for a powerful rebound, positioning them for long-term gains. Moreover, the recent downturn in lithium stocks, on the back of fleeting oversupply, unveils a golden opportunity for investors.

Chile's SQM , the world's second-largest lithium producer, on Wednesday posted a fourth-quarter net profit down 82% from a year earlier, below forecasts as prices for the key battery metal continued to slide from earlier peaks.

Lithium is a crucial component for various industries, including electric vehicles, and its demand is expected to grow exponentially in the next decade. The current oversupply and low prices of lithium are temporary, and as the economy improves and interest rates decrease, demand for lithium and its prices are likely to increase. There are only a few major players in the lithium market, and investing in these companies, such as SQM, Arcadium Lithium, and Lithium Americas Corp., could lead to significant returns.