Previous Close | 48.49 |
Open | 49.10 |
Bid | 48.97 x 1400 |
Ask | 49.06 x 1100 |
Day's Range | 48.22 - 49.66 |
52 Week Range | 38.50 - 85.03 |
Volume | |
Avg. Volume | 1,558,219 |
Market Cap | 14.018B |
Beta (5Y Monthly) | 1.09 |
PE Ratio (TTM) | 6.96 |
EPS (TTM) | 7.05 |
Earnings Date | N/A |
Forward Dividend & Yield | 5.02 (10.36%) |
Ex-Dividend Date | Dec 06, 2023 |
1y Target Est | 72.09 |
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Lithium is a key component of electric vehicle (EV) batteries, which have surged in demand in the past few years, causing some of the best battery stocks to reach record highs in late 2022. Lithium carbonate prices have fallen more than 62% over the past twelve months, but prices seem to be back on the rise in 2024. According to Koyfin, lithium carbonate prices have risen nearly 20% on a year-to-date perspective. The upward price pressure is partially due to a strengthening market in China, and
Lithium stocks have lost popularity in the past year amid a broad-based industry drawdown. However, successful investing often requires being contrarian. Although risky, contrarian investing allows investors to capture value and lock in lifetime returns. Despite its allure, contrarian investing can lead investors into value traps. However, the lithium industry is set to grow by 14.8% until 2031, making a value trap extremely unlikely. Moreover, busted growth can be left out of the conversation a
Investors certainly can’t be blamed for avoiding lithium stocks right now. Prices for the battery metal continue to be low after a year in 2023 that saw the sector implode. Waning demand for EVs in China is a big factor in the decline. A weakening Chinese economy served to compound the issue. Yet, long-term demand continues to be strong and makes it prudent to invest in lithium stocks built for the long haul. In this case, it looks like bigger is going to be better. That means investors should c