5 Cheap Lithium Stocks to Buy Today

2. Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM)

Number of Hedge Fund Holders: 29    

Share Price as of September 13: $107.67

Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) produces and distributes specialty plant nutrients, iodine and derivatives, lithium and derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. In late August, authorities in Chile approved an environmental plan for compliance regarding lithium projects in the country, boosting SQM stock. The newly approved plan will ultimately cost the company $52 million in investments, per news agency Reuters

On August 22, Deutsche Bank analyst Corinne Blanchard maintained a Buy rating on Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) stock and raised the price target to $115 from $105, noting that the analyst day of the firm could unlock further growth strategy plans. 

At the end of the second quarter of 2022, 29 hedge funds in the database of Insider Monkey held stakes worth $658.6 million in Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM), compared to 28 the preceding quarter worth $493 million.