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7 Battery Stocks That Will Make You a Millionaire by 2030 - 3 of 7

 
 

#3 - Sociedad Quimica y Minera de Chile (NYSE:SQM)

The third and last lithium producer on this list is Sociedad Quimica y Minera de Chile (NYSE:SQM). The Chilean-based chemical maker is becoming a major supplier of lithium to the EV market.

Continuing the theme from the first two stocks in this report, SQM has posted three consecutive quarters of successively higher record revenue levels. The company is now generating over $2 billion of revenue every quarter.

And lithium is a big reason why. In its second quarter report the company said it was well on its way to reaching its goal of having 210,000 metric tons of lithium carbonate capacity. The company said that capacity will be used to deliver “high-value-added lithium products” for over 5 million electric vehicles.

SQM stock trades at a compelling P/E ratio of around 8.4x. And, among the stocks on this list, it also appears to be a solid candidate for dividend investing. The current yield is 5.3% and the company currently pays out a dividend of $4.82 on an annual basis.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders. Read More 
Current Price
$38.40
Consensus Rating
Hold
Ratings Breakdown
4 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$48.69 (26.8% Upside)

 

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