5 Best Lithium Stocks to Buy Now

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

Number of Hedge Fund Holders: 29

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) manufactures and sells several kinds of chemicals which also include lithium and its derivatives. Its lithium products serve several industries such as the battery, glass, and ceramic manufacturers. The firm is headquartered in Santiago, Chile.

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is one of the largest lithium suppliers in the world, as it commands a 25% market share. The firm also has some of the longest lasting reserves out there, with the life of its reserves estimated to be at 20+ years. Additionally, 70% of the company’s lithium volumes have been contracted at current spot prices, managing to insulate it from future price drops. Sociedad Química y Minera de Chile S.A. (NYSE:SQM) is also slated to grow its volume by 37% annually in the second half of this year.

Deutsche Bank raised Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s share price target to $115 from $105 in August 2022, sharing that the stock has a significant upside. Insider Monkey scanned 895 hedge fund portfolios for Q2 2022 and discovered that 29 owned the company’s shares.

Out of these, Paul Marshall and Ian Wace’s Marshall Wace LLP is Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s largest investor through a $147 million stake that comes via 1.7 million shares.