Adjusted earnings per share jumped to $8.62 from $1.01 in Q4 2021. The company announced solid fourth-quarter financial results in mid-February. ALB plans to operate this business separately, and Ketjen will have three divisions: Fluidized Catalytic Cracking (FCC) Clean Fuels and Hydroprocessing Catalysts (HPC) and Performance Catalyst & Curative Solutions (PCS). Late last month, the specialty chemical company announced a new subsidiary for its refining catalysts business called Ketjen. ALB has three business divisions, including lithium, bromide specialties and refining catalysts. TipRanks consensus price target: $312.20 29.06.4% upside potential)Īlbemarle ( ALB (opens in new tab), $241.96) is a specialty chemicals company headquartered in Charlotte, North Carolina.Hear what else the pros have to say about SQM on TipRanks (opens in new tab). Two of the five analysts surveyed by TipRanks categorize SQM stock as a Buy. The analyst has a Buy rating and a price target of $95 on the stock, implying upside potential of around 13%. And Blanchard has forecast a 14% dividend return for the stock in 2023. Sociedad Química y Minera de Chile has also purchased and developed a new plant in China that will be able to produce around 30,000 metric tons of lithium hydroxide.Ĭonsidering these factors, Blanchard believes that SQM "should also see incremental volumes coming from China, but likely towards the end of 2023, which should become more substantial going into 2024."Īnother positive for investors? SQM is one of the best dividend stocks, currently yielding around 9.2%. SQM expects to have this production capacity up and running by 2025. Moreover, the company is in the process of expanding its lithium hydroxide production capacity in Chile to 100,000 metric tons from 40,000 metric tons earlier, which will require an investment of $360 million. SQM stated that the "high price environment" could well continue this year.įor analyst Blanchard, SQM remains a top pick in 2023, as she foresees around "~15% lithium volumes increase in 2023 from its brownfield expansion in Chile." The Salar Futuro project of SQM in Chile has seen an investment of $1.5 billion and aims to be a "sustainable mining operation" over the long term. This could lead to the market for lithium remaining tight for this year – a sentiment echoed by SQM in its third-quarter earnings press release. Shares of SQM have jumped by more than 5% for the year-to-date amid investor expectations that the reopening of China could boost the demand for lithium from EV companies.Īccording to Deutsche Bank analyst Corinne Blanchard, the reopening of China and the removal of federal subsidies for EVs could see "sentiment and demand to further strengthen" in the second quarter and the rest of 2023. When it comes SQM's place on this list of the best lithium stocks, the company expects to produce 180 metric tonnes of lithium carbonate in 2023 and is one of the world's largest lithium producers. The company develops its products from "caliche ore and brines extracted from mineral resources located in northern Chile in the Antofagasta and Tarapacá regions." Sociedad Química y Minera de Chile ( SQM (opens in new tab), $84.13) is a chemical company headquartered in Santiago, Chile, that supplies iodine, lithium, industrial chemicals and plant nutrients. TipRanks consensus rating: Moderate Buy. TipRanks consensus price target: $102.75 (22.1% upside potential).
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