SQM Stock Holds Steady Despite Lithium Sales Volume Drop in Q1
Shares of Sociedad Quimica y Minera de Chile (NYSE: SQM), or SQM, eked out a 0.2% gain on Thursday, following the Chile-based lithium giant's release of its first-quarter 2023 results on the prior evening.
Most investors were probably at least satisfied with the stock treading water. After all, the quarter's revenue and earnings missed the Wall Street consensus estimates. The stock's saving grace was management's positive outlook for its lithium business -- by far, the largest of its segments -- for the year.
In recent years, the lithium segment has been turning in robust to downright powerful results, thanks primarily to surging demand for the compounds used to produce lithium-ion batteries for electric vehicles.
Source Fool.com
Sociedad Quimica y Minera de Chile SA ADR Stock
€38.10
-2.060%
With 12 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 58 € there is a hugely positive potential of 52.23% for Sociedad Quimica y Minera de Chile SA ADR compared to the current price of 38.1 €.
