#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 produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.
Read More - Current Price
- $46.70
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 3 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $64.98 (39.1% Upside)
