5 Most Profitable Lithium Stocks Now

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

TTM Net Income: $3.08 billion

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is a Santiago, Chile-based chemicals company that has the distinction of being the biggest lithium producer in the world. The company has a presence in 110 countries around the world.

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) intends to have a carbon-neutral lithium production process by 2030. Meanwhile, the company currently uses 97.4% solar energy for the production of lithium. Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is considered the backbone of the Chilean economy and intends to invest $1.3 billion by 2024 to boost the supply of lithium.

In a note issued to investors on January 10, Corinne Blanchard at Deutsche Bank gave Sociedad Química y Minera de Chile S.A. (NYSE:SQM) stock a target price of $95 along with a Buy rating. The analyst sees short-term volatility in the lithium market but has a confident outlook for the second half of the year. You can read the company’s Q4 2022 earnings call transcript here.

Follow Chemical & Mining Co Of Chile Inc (NYSE:SQM)

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