Lithium Stocks List: 5 Biggest Lithium Stocks

3. Sociedad Quimica y Minera (NYSE:SQM)

Number Of Hedge Fund Holders: 34

Sociedad Química y Minera (NYSE:SQM) is a Chilean chemical company and a supplier of plant nutrients, iodine, lithium and industrial chemicals. One of the world’s biggest lithium producers, SQM’s natural resources main production facilities are located in the Atacama Desert in Tarapacá and Antofagasta regions.

On November 18, Citi analyst P.J. Juvekar lowered the price target on Sociedad Química y Minera (NYSE:SQM) to $112 from $123 and kept a Buy rating on the shares. According to Juvekar, lithium prices increased sequentially in Q3 and in fiscal 2023, which means that the company will likely be fully exposed to the market price. The analyst dropped the price target to reflect “near-peak earnings at continued high prices.”

At the end of Q3 2022, 34 hedge funds were bullish on Sociedad Quimica y Minera (NYSE:SQM) and disclosed stakes worth $713.9 million in the company. This is compared to 29 positions in the preceding quarter with stakes worth $658.6 million in the company. As of September 30, Arrowstreet Capital is the largest shareholder in the company and has stakes worth $125.2 million in the company.