Sociedad Quimica y Minera (NYSE:SQM) Upgraded at Weiss Ratings

Sociedad Quimica y Minera (NYSE:SQM) was upgraded by stock analysts at Weiss Ratings from a “sell (d+)” rating to a “hold (c-)” rating in a report issued on Friday,Weiss Ratings reports.

SQM has been the subject of several other reports. Jefferies Financial Group reiterated a “hold” rating and set a $50.00 price objective (down from $53.00) on shares of Sociedad Quimica y Minera in a research note on Monday, October 6th. Itau BBA Securities initiated 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 price objective for the company. JPMorgan Chase & Co. boosted their price objective 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. Rothschild & Co Redburn assumed coverage on shares of Sociedad Quimica y Minera in a research note on Friday. They set a “neutral” rating and a $54.00 price objective for the company. Finally, BMO Capital Markets upped their target price on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.81.

Sociedad Quimica y Minera Stock Performance

Shares of SQM stock opened at $45.53 on Friday. Sociedad Quimica y Minera has a one year low of $29.36 and a one year high of $47.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92. The company has a 50 day moving average price of $44.09 and a 200 day moving average price of $38.64. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 27.27 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Sociedad Quimica y Minera’s quarterly revenue was down 19.4% compared to the same quarter last year. Sell-side analysts anticipate that Sociedad Quimica y Minera will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. MGO One Seven LLC boosted its stake in Sociedad Quimica y Minera by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 16,677 shares of the basic materials company’s stock valued at $717,000 after acquiring an additional 754 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Sociedad Quimica y Minera by 33.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 71,429 shares of the basic materials company’s stock valued at $3,070,000 after acquiring an additional 17,869 shares during the last quarter. Perpetual Ltd bought a new position in Sociedad Quimica y Minera during the 3rd quarter valued at $3,412,000. Osaic Holdings Inc. boosted its stake in Sociedad Quimica y Minera by 2.9% during the 2nd quarter. Osaic Holdings Inc. now owns 45,602 shares of the basic materials company’s stock valued at $1,608,000 after acquiring an additional 1,294 shares during the last quarter. Finally, Marex Group plc bought a new position in Sociedad Quimica y Minera during the 2nd quarter valued at $410,000. 12.41% of the stock is currently owned by 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.