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
€75.60
-6.670%
With 8 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
On the other hand, the target price of 75 € is below the current price of 75.6 € for Sociedad Quimica y Minera de Chile SA ADR, so the potential is actually -0.79%.
