Better Buy: Sociedad Quimica y Minera vs. ConocoPhillips
Sociedad Quimica y Minera (NYSE: SQM) is down roughly 33% from its highs in 2020, while ConocoPhillips (NYSE: COP) is off by roughly 50% at the time of this writing. The market is in the middle of a volatile bear market, so big losses are the norm -- not the exception today. And the numbers change fast! However, it is fair to ask if the declines these companies have seen are a buying opportunity. While the comparison between these two names may seem odd, there are some key connections between them that deserve consideration. Here's a match up of Sociedad Quimica y Minera (just SQM from here on out) and ConocoPhillips to help you decide if one of them stands above the other.
ConocoPhillips drills for oil and natural gas. It has a fairly broad portfolio, with investments in traditional onshore drilling around the world, unconventional onshore drilling (U.S. shale), offshore drilling in various regions, and operations in the Canadian Oil Sands. SQM is best known for producing industrial metal lithium, which is largely used in batteries.
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Source Fool.com
