Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price Down 3.1% – Here’s What Happened

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) dropped 3.1% on Monday . The stock traded as low as $40.54 and last traded at $41.13. Approximately 221,262 shares changed hands during trading, a decline of 81% from the average daily volume of 1,192,373 shares. The stock had previously closed at $42.43.

Analyst Ratings Changes

A number of brokerages have commented on SQM. JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $44.00 in a research note on Friday, October 11th. Berenberg Bank began coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Bank of America decreased their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 21st. Finally, Jefferies Financial Group dropped their target price 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. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.69.

Sociedad Química y Minera de Chile Stock Down 3.4 %

The company’s fifty day simple moving average is $38.46 and its 200 day simple moving average is $42.19. 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 firm has a market capitalization of $11.11 billion, a P/E ratio of 27.98 and a beta of 1.02.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its earnings results on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. During the same quarter last year, the company posted $2.03 EPS. Research analysts expect that Sociedad Química y Minera de Chile S.A. will post -0.88 EPS for the current year.

Institutional Trading of Sociedad Química y Minera de Chile

Hedge funds and other institutional investors have recently modified their holdings of the business. Creative Planning increased its stake in shares of Sociedad Química y Minera de Chile by 63.8% during the third quarter. Creative Planning now owns 18,516 shares of the basic materials company’s stock valued at $772,000 after purchasing an additional 7,209 shares in the last quarter. Richard P Slaughter Associates Inc increased its position in Sociedad Química y Minera de Chile by 5.9% during the 3rd quarter. Richard P Slaughter Associates Inc now owns 31,857 shares of the basic materials company’s stock valued at $1,328,000 after buying an additional 1,765 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Sociedad Química y Minera de Chile by 47.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock valued at $87,000 after buying an additional 683 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Sociedad Química y Minera de Chile by 5.7% in the second quarter. The Manufacturers Life Insurance Company now owns 11,020 shares of the basic materials company’s stock worth $449,000 after acquiring an additional 591 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Sociedad Química y Minera de Chile by 11.6% in the second quarter. AQR Capital Management LLC now owns 5,249 shares of the basic materials company’s stock worth $214,000 after acquiring an additional 544 shares during the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

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.