Sociedad Química y Minera de Chile SA (SQM) Stock

Shares of Sociedad Química y Minera de Chile are close to their lowest point in five years because lithium prices are falling. However, the company has a strong market presence and good profit margins, which could help them recover. While they face challenges like slower electric vehicle adoption and potential revenue loss from a new contract with the Chilean government, their investments in new extraction projects in China and Australia indicate promising future demand.

SQM is experiencing an increase in volume across nearly all of its business areas, despite facing challenges from lower prices compared to the same period last year in the third quarter.

SQM announced total revenues of US$3,455.0 million for the nine months ending September 30, 2024, a decrease from US$6,155.9 million during the same period last year. The company experienced a net loss of US$524.5 million, or US$1.84 per share, compared to a net income of US$1,809.5 million, or US$6.33 per share, for the previous year.

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) will hold its Q3 2024 Earnings Conference Call on November 20, 2024, at 10:00 AM ET. The call will feature several company representatives, including CEO Ricardo Ramos Rodríguez and CFO Gerardo Illanes. Participants from various financial institutions will also join the call to discuss the company's performance.

Two of these lithium stocks seem to carry much more risk compared to the third one.

VANCOUVER, BC, Sept. 23, 2024 /PRNewswire/ - LiTHOS Group Ltd. has made an announcement.

Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) has teamed up with SQM (NYSE:SQM), a major lithium chemicals producer based in Chile, to work on its Lithium Ridge project in Uis, Namibia. The agreement involves three stages, allowing SQM to acquire a 50% share in Grace Simba Investments (GSI), which is the Andrada subsidiary holding the Lithium Ridge license.

SQM's earnings report showed mixed results, but there are still reasons to feel hopeful. The drop in lithium prices has significantly affected SQM's revenue and profits. However, because of its low production costs, SQM is in a good position to increase its market share by continuing to produce without cutting back.

In the second quarter, Sociedad Quimica (SQM) reported earnings that fell short of expectations, but their sales exceeded estimates. This was due to a decrease in average selling prices for lithium and SPN units.