Sociedad Quimica y Minera de Chile (SQM) Receives Consensus Recommendation of “Hold” from Brokerages

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Sociedad Quimica y Minera de Chile (NYSE:SQM) has earned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $42.50.

A number of brokerages have commented on SQM. Santander lowered Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Morgan Stanley reissued an “underweight” rating and set a $35.00 price objective (down previously from $44.00) on shares of Sociedad Quimica y Minera de Chile in a research report on Friday, April 12th. Zacks Investment Research downgraded shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. downgraded shares of Sociedad Quimica y Minera de Chile from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $51.00 to $43.00 in a research report on Friday, March 1st. Finally, TheStreet cut shares of Sociedad Quimica y Minera de Chile from a “b-” rating to a “c” rating in a research note on Tuesday, March 19th.

SQM traded down $0.50 during midday trading on Friday, hitting $38.08. 631,301 shares of the company were exchanged, compared to its average volume of 554,105. The company has a market capitalization of $10.02 billion, a PE ratio of 22.80, a PEG ratio of 1.58 and a beta of 1.08. Sociedad Quimica y Minera de Chile has a 1-year low of $36.57 and a 1-year high of $58.69. The company has a current ratio of 4.32, a quick ratio of 2.67 and a debt-to-equity ratio of 0.62.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its earnings results on Thursday, February 28th. The basic materials company reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.03). The company had revenue of $565.20 million for the quarter, compared to analyst estimates of $560.66 million. Sociedad Quimica y Minera de Chile had a return on equity of 20.29% and a net margin of 19.41%. Equities research analysts predict that Sociedad Quimica y Minera de Chile will post 1.59 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Sociedad Quimica y Minera de Chile by 106.9% during the fourth quarter. FMR LLC now owns 2,126,310 shares of the basic materials company’s stock valued at $81,438,000 after acquiring an additional 1,098,410 shares during the last quarter. Standard Life Aberdeen plc increased its position in shares of Sociedad Quimica y Minera de Chile by 0.3% during the fourth quarter. Standard Life Aberdeen plc now owns 1,927,000 shares of the basic materials company’s stock valued at $75,008,000 after purchasing an additional 5,400 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sociedad Quimica y Minera de Chile by 11.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,449,337 shares of the basic materials company’s stock valued at $55,510,000 after purchasing an additional 154,410 shares during the period. Vanguard Group Inc increased its position in shares of Sociedad Quimica y Minera de Chile by 4.6% during the third quarter. Vanguard Group Inc now owns 1,213,590 shares of the basic materials company’s stock valued at $55,485,000 after purchasing an additional 52,943 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Sociedad Quimica y Minera de Chile by 4.6% during the third quarter. Vanguard Group Inc. now owns 1,213,590 shares of the basic materials company’s stock valued at $55,485,000 after purchasing an additional 52,943 shares during the period. Institutional investors own 11.10% of the company’s stock.

Sociedad Quimica y Minera de Chile Company Profile

Sociedad QuĂ­mica y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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