10 High Growth Lithium Stocks to Invest In

6. Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

5-Year Revenue CAGR: 21.29%

Average Price Target Upside: 24.22%

Number of Hedge Fund Holders: 9

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a leading global producer of lithium, iodine, and specialty plant nutrients. The company has exclusive access to rich mineral reserves in Chile’s Atacama Desert, which includes some of the highest concentrations of lithium worldwide. The strategic access allows SQM to play a critical role in the supply chain for EVs, renewable energy storage, and other industries.

With operations in over 100 countries, it has steadily expanded its presence, securing a strong position in the growing green economy. It held an 18% share of the global lithium market in 2023, selling lithium products to 207 customers across 39 countries, especially in Asia. The company has also partnered with Kidman Resources to acquire spodumene resources in Australia, further expanding its lithium operations.

As demand for EVs and renewable energy storage rises, SQM continues to increase its lithium production capacity, aiming for 210,000 metric tons of lithium carbonate by 2024. The company’s diversified portfolio, which includes iodine and plant nutrients, adds to its resilience and positions it for future growth.

In September, SQM’s CEO Ricardo Ramos highlighted a significant development as he announced a partnership with Codelco to extend operations in the Salar de Atacama until 2060. The partnership, which is expected to take effect in 2025, is contingent upon a consultation process with local Atacameño communities to ensure mutual benefits and respect for human rights.

Moreover, in response to long-term industry trends, SQM launched SQM International Lithium to focus on expanding its lithium business beyond Chile. The new venture aims to increase SQM’s production by at least 100,000 metric tons of LCE annually by the end of the decade through partnerships and innovation. It ranks at 6 on our list of high growth lithium stocks.