Sqm stock price forecast also reflects currency trends

SQM stock price forecast also reflects currency trends, as a weaker Chilean peso versus the USD can enhance export competitiveness, indirectly boosting net earnings. Looking at its valuation, SQM is holding a Forward P/E ratio of 5.48. This indicates a discount in contrast to its industry's Forward P/E of 10.21. Lithium prices have reflected something of a rollercoaster over the past two years. Fueled by electric vehicle (EV) hype, prices of the silvery-white metal soared in 2022. However, SQM was part of the supply surge as miners around the world looked to respond to the electrification agenda. Recent SQM stock price forecast models integrate lithium carbonate spot price trends, which climbed 3% month-over-month. Technical charts indicate SQM has broken a resistance at $50, with possible next target at $56 if trading volume sustains above 2M shares daily.