SQM is a stock, not an exchange-traded fund (ETF), so this target is derived from sell-side research. Reviewing the most recent attributed price targets, the figures include Scotiabank at $104 (Buy), Citi at $95 (Buy), Deutsche Bank at $94 (Buy), BMO Capital at $90 (Buy), J.P. Morgan at $88 (Hold), Goldman Sachs at $82 (Hold), Berenberg at $66 (Hold), and Bank of America Securities at $60 (Sell). The arithmetic mean of these eight targets is approximately $84.88, which rounds to the $85 central target used throughout this article.
The range is unusually wide — $60 to $104 — reflecting genuine disagreement about lithium pricing and SQM's structural costs. Bullish analysts emphasize record lithium volumes and firmer prices, while more cautious analysts point to elevated Chilean royalty payments and execution risk. Recent activity has been mixed: J.P. Morgan upgraded the stock to Overweight in December 2025 before returning it to Neutral in mid-2026, while Citi moved to a Buy rating in August 2026. Bank of America has maintained a Sell-equivalent stance, the most cautious on the Street.
SQM recently closed at $60.05, giving the company a market capitalization of roughly $17.2 billion. The stock trades at about 10 times trailing earnings, with a dividend yield near 3%. To reach the $85 central target, shares would need to gain about 42%, which qualifies as a substantial move. Notably, the stock traded as high as $98 in May 2026, so $85 is not an unprecedented level — it represents a partial retracement toward earlier-year highs rather than uncharted territory.
The company operates three principal businesses: lithium and its derivatives (roughly half of revenue), iodine, and specialty plant nutrients such as potassium nitrate. In the second quarter of 2026, SQM reported revenue of about $1.76 billion and net profit of approximately $365 million, a sharp recovery from the prior year. Management reported record quarterly lithium sales volumes exceeding 84,000 tonnes of lithium carbonate equivalent (LCE) and expects global lithium demand to surpass 2.1 million tonnes in 2026.
Several verified factors could support an advance. SQM's lithium volumes are growing rapidly through its Novandino joint venture with Chile's state-owned Codelco, which targets 280,000 to 290,000 tonnes of LCE in 2026 and roughly 300,000 tonnes the following year. Lithium prices strengthened during the first half of 2026 on better-than-expected demand, and the company's iodine and specialty plant nutrition segments are also performing well. The Salar Futuro project, with an estimated investment of about $3 billion, is intended to extend operations and lower the environmental footprint of the Atacama operation.
Analysts have also been raising targets through 2026. Goldman Sachs lifted its target from $64 to $82, and Deutsche Bank moved from $87 to as high as $106 at one point, reflecting a more constructive lithium outlook and stronger demand forecasts tied to electric vehicles and energy storage.
The principal obstacle is lithium price volatility. SQM's earnings are highly leveraged to lithium and iodine prices, and any softening in battery demand — including a potential near-term pause in energy-storage deployment flagged by management — could pressure results. Chilean lithium royalties and payments to the state remain a structural cost that caps the earnings uplift from higher prices relative to peers with lighter fiscal burdens. Bank of America's $60 target, the lowest among the recent set, reflects exactly this caution. The stock also carries execution risk around capacity expansion and the final terms and long-term structure of the Codelco partnership.
SQM's 52-week range is $41.94 to $98.00, with the high reached in May 2026. After that peak, the stock has retreated and now trades below both its 50-day and 200-day moving averages, which sat near $70.60 and $76.40 respectively as of late October 2026. Those moving averages represent notable overhead resistance zones the stock would need to reclaim on the way toward $85. On the downside, the $60 area and the 52-week low near $42 provide reference support levels, though the stock remains well above its low.
Analyst price targets generally reflect a forward-looking research horizon, commonly around 12 months, though individual firms may apply different assumptions. Investors tracking the path toward $85 should watch lithium and iodine spot prices, quarterly sales volumes, and any updates on the Novandino joint venture and Salar Futuro approvals. SQM's next earnings release, guidance for 2027 volumes, analyst target revisions, and Chilean regulatory or royalty developments are the most relevant near-term catalysts. No specific timing should be assumed.
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The $85 central target for SQM is the average of eight current analyst price targets spanning $60 to $104, requiring a gain of about 42% from the recent $60.05 close. The level is plausible in the sense that the stock already traded above it earlier in 2026, and support comes from record lithium volumes, improving prices, and a progressing Codelco partnership. However, the wide dispersion in analyst views — from Bank of America's $60 to Scotiabank's $104 — underscores genuine uncertainty about lithium pricing, royalties, and execution. Whether SQM can reach $85 depends on sustained lithium demand, disciplined cost control, and favorable partnership terms, none of which can be guaranteed. Investors should monitor lithium prices, volume guidance, and analyst revisions rather than treating the average target as a forecast.
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A.I.dvisor indicates that over the last year, SQM has been closely correlated with ALB. These tickers have moved in lockstep 80% of the time. This A.I.-generated data suggests there is a high statistical probability that if SQM jumps, then ALB could also see price increases.