Why Sociedad Quimica y Minera Stock Popped Today
Shares of Chilean lithium mining company Sociedad Quimica y Minera (NYSE: SQM) -- simply "SQM" to its friends -- jumped 4.9% through 12:10 p.m. ET this afternoon on positive news out of Europe.
As Euro News reports, the European Union has prepared a list of 34 raw materials critical to its member countries' economies and deserving of government support. Lithium is on this list, alongside metals such as cobalt and magnesium and various rare earth elements -- all essential components of electric car batteries and electric motors.
Image source: Getty Images.
Source Fool.com
Sociedad Quimica y Minera de Chile SA ADR Stock
€45.00
6.380%
Our community is currently high on Sociedad Quimica y Minera de Chile SA ADR with 3 Buy predictions and 1 Sell predictions.
However, we have a potential of -4.44% for Sociedad Quimica y Minera de Chile SA ADR as the target price of 43 € is below the current price of 45.0 €.
