$SQM

Analysts made several rating changes: Truist initiated DigitalOcean as buy, citing AI growth; Citi downgraded Abercrombie & Fitch to neutral; Baird upgraded Synopsys to outperform. Other notable moves include upgrades for SQM, Synopsys, Extra Space Storage, and downgrades for Celsius, Regions, and Novo Nordisk. Bank of America reiterated Nvidia as buy, highlighting strong AI growth.

Chile's S&P IPSA index fell 0.8% to 11,451 on 25 August, driven by a 4.1% drop in lithium producer SQM-B shares. The peso remained stable at 913.30 per US dollar. Latam Airlines rose 2.8% due to lower oil prices. The index is 1.5% below its January record high, with lithium sector volatility cited as a key influence.

Sociedad Química y Minera de Chile S.A. (SQM) reported strong Q2 results, with revenue up 136.7% YoY to $2.47B and net income at $660M. The company raised its 2026 lithium demand forecast to 2.1M metric tons. Lithium revenue surged 300% to $1.78B, with record sales volume and higher prices. SQM expects stable lithium prices and volumes in Q3, with costs remaining low. The company plans significant capital spending from 2026 to 2028, including potential $3B for Salar Futuro. Hedge funds increased

Lithium markets surged on August 21, 2026, with GFEX lithium carbonate futures up 4.12% to 158,700 CNY per tonne. Albemarle (ALB) rose 6.75% to $143.25, SQM (SQM) gained 4.47% to $81.96, and the LIT ETF increased 2.72% to $76.61. Analysts cite tight supply and strong procurement as drivers.

Sociedad Química y Minera de Chile (SQM) reported Q2 revenue of US$2.5b and EPS of US$2.31, both exceeding estimates. Analysts revised 2026 revenue forecast to US$7.77b (down from US$7.98b) but raised EPS forecast to US$6.90 (up from US$6.58). The average price target remains US$84.95, with a wide range of US$44.35 to US$110.

Chile's S&P IPSA index rose 0.89% to 11,338 points, driven by gains in lithium producer SQM-B (+3.6%) and energy group Copec (+2.8%). The Chilean peso strengthened 0.85% to 914.28 per USD. The S&P 500 gained 0.43%, and the VIX fell 5.5%, supporting Latin American equities.

SQM reported a net income of $1.02B (US$3.59 per share) for 1H 2026, up 353.5% YoY. Revenues reached $4.23B, a 103.4% increase. Lithium sales volumes hit a record 84k metric tons of LCE. CEO Ricardo Ramos highlighted strong demand and long-term growth prospects in lithium, iodine, and specialty plant nutrition.

Chile's IPSA index will expand from 30 to 31 companies on 1 September, as MSCI takes over management. Pampa Investments will rejoin, and the index will now use free-float adjusted market capitalization. The changes are part of the nuam merger, which also expands the broader IGPA to 50 members. The IPSA recently traded around 11,237.90, with Pampa's shares up 1.4% on inclusion news.

SQM reported a 646.4% YoY increase in Q2 2026 profit to US$660M, driven by record lithium sales (84,100 tonnes) and price rebound. Revenue rose 136.7% to US$2.47B, with EPS at US$2.31. Analysts expected US$2.03 EPS on US$2.24B revenue. Lithium prices doubled from mid-2025 lows, reaching US$19,850/tonne. SQM's joint venture with Codelco, Nova Andino Litio, controls Atacama lithium operations.

SQM reported Q2 2026 earnings of $2.31 per share on revenue of $2.47 billion, exceeding estimates. Record lithium sales, higher prices, and strong iodine and specialty plant nutrition results drove performance. Shares rose 2.98% in premarket trading. The company expects 2026 lithium demand to exceed 2.1 million metric tons and plans $3 billion in capex through 2028.