Sociedad Quimica y Minera (NYSE:SQM) Price Target Raised to $55.00

Sociedad Quimica y Minera (NYSE:SQM) had its price objective increased by equities research analysts at BMO Capital Markets from $45.00 to $55.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ target price points to a potential upside of 18.66% from the stock’s current price.

Several other analysts have also commented on the company. Scotiabank decreased their price target on Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 30th. JPMorgan Chase & Co. boosted their price target on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 28th. Finally, Zacks Research raised Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Sociedad Quimica y Minera has a consensus rating of “Moderate Buy” and a consensus target price of $45.40.

Sociedad Quimica y Minera Price Performance

Shares of NYSE:SQM opened at $46.35 on Thursday. Sociedad Quimica y Minera has a 1-year low of $29.36 and a 1-year high of $47.39. The firm has a market capitalization of $13.24 billion, a PE ratio of 27.75 and a beta of 1.03. The business’s 50 day moving average is $38.61 and its 200-day moving average is $37.46. The company has a current ratio of 2.88, a quick ratio of 1.96 and a debt-to-equity ratio of 0.71.

Sociedad Quimica y Minera (NYSE:SQM) last announced its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.17% and a net margin of 11.29%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business posted $0.75 EPS. Sociedad Quimica y Minera’s revenue for the quarter was down 19.4% compared to the same quarter last year. Sell-side analysts predict that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of institutional investors and hedge funds have recently bought and sold shares of SQM. Wells Fargo & Company MN boosted its stake in Sociedad Quimica y Minera by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 79,047 shares of the basic materials company’s stock worth $2,874,000 after purchasing an additional 821 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Sociedad Quimica y Minera by 299.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 95,839 shares of the basic materials company’s stock worth $3,485,000 after purchasing an additional 71,823 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Sociedad Quimica y Minera in the fourth quarter worth $261,000. Marshall Wace LLP boosted its stake in Sociedad Quimica y Minera by 1,416.8% in the fourth quarter. Marshall Wace LLP now owns 141,214 shares of the basic materials company’s stock worth $5,135,000 after purchasing an additional 131,904 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Sociedad Quimica y Minera by 121.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company’s stock worth $2,236,000 after purchasing an additional 33,797 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company’s stock.

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.