Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Given Consensus Rating of “Hold” by Brokerages

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $48.69.

Several brokerages recently issued reports on SQM. Jefferies Financial Group cut their price target on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft reduced their target price on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $44.00 in a report on Friday, October 11th. Berenberg Bank started coverage on Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, Bank of America lowered their target price on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday, August 21st.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQM. Lazard Asset Management LLC boosted its stake in shares of Sociedad Química y Minera de Chile by 8.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company’s stock valued at $105,407,000 after purchasing an additional 165,370 shares during the last quarter. Earnest Partners LLC grew its holdings in Sociedad Química y Minera de Chile by 9.3% during the 1st quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock worth $50,112,000 after acquiring an additional 86,811 shares during the period. Van ECK Associates Corp grew its holdings in Sociedad Química y Minera de Chile by 41.6% during the 2nd quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock worth $36,661,000 after acquiring an additional 264,324 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Sociedad Química y Minera de Chile by 1.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 862,343 shares of the basic materials company’s stock valued at $35,140,000 after acquiring an additional 15,604 shares during the last quarter. Finally, Prudential PLC lifted its stake in shares of Sociedad Química y Minera de Chile by 18.9% in the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock valued at $24,961,000 after purchasing an additional 97,479 shares during the period. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Trading Down 1.5 %

Shares of SQM opened at $38.59 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59. The stock has a market cap of $11.02 billion, a PE ratio of 27.76 and a beta of 1.02. Sociedad Química y Minera de Chile has a 1 year low of $32.24 and a 1 year high of $64.62. The stock has a 50 day simple moving average of $38.60 and a 200-day simple moving average of $42.15.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company earned $2.03 earnings per share. On average, sell-side analysts predict that Sociedad Química y Minera de Chile will post -0.88 EPS for the current fiscal year.

Sociedad Química y Minera de Chile 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.