Sociedad Quimica y Minera (NYSE:SQM) Coverage Initiated at Rothschild & Co Redburn

Equities research analysts at Rothschild & Co Redburn assumed coverage on shares of Sociedad Quimica y Minera (NYSE:SQM) in a research report issued on Friday,Benzinga reports. The firm set a “neutral” rating and a $54.00 price target on the basic materials company’s stock. Rothschild & Co Redburn’s target price points to a potential upside of 21.21% from the company’s current price.

SQM has been the topic of several other reports. BMO Capital Markets increased their target price on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 28th. Jefferies Financial Group reissued a “hold” rating and set a $50.00 target price (down from $53.00) on shares of Sociedad Quimica y Minera in a research note on Monday, October 6th. Finally, Itau BBA Securities started coverage on shares of Sociedad Quimica y Minera in a research note on Thursday, September 4th. They set an “outperform” rating and a $55.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Sociedad Quimica y Minera currently has a consensus rating of “Hold” and an average target price of $46.81.

Sociedad Quimica y Minera Price Performance

Shares of SQM opened at $44.55 on Friday. The business’s 50-day moving average is $44.08 and its two-hundred day moving average is $38.54. The company has a market capitalization of $12.72 billion, a P/E ratio of 26.68 and a beta of 1.08. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92. Sociedad Quimica y Minera has a fifty-two week low of $29.36 and a fifty-two week high of $47.51.

Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue was down 19.4% compared to the same quarter last year. Research analysts predict that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new position in Sociedad Quimica y Minera in the 1st quarter valued at about $309,000. FORA Capital LLC acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $573,000. Northern Trust Corp raised its holdings in Sociedad Quimica y Minera by 17.9% in the 1st quarter. Northern Trust Corp now owns 346,259 shares of the basic materials company’s stock valued at $13,757,000 after acquiring an additional 52,460 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $274,000. Finally, Vident Advisory LLC raised its holdings in Sociedad Quimica y Minera by 312.0% in the 1st quarter. Vident Advisory LLC now owns 27,115 shares of the basic materials company’s stock valued at $1,077,000 after acquiring an additional 20,533 shares during the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Company Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.