Brokerages Set Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Target Price at $67.00

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) have earned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $67.00.

Several equities analysts have recently issued reports on the stock. Scotiabank lowered their price objective on shares of Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 4th. BMO Capital Markets cut their price objective on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. StockNews.com cut Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. JPMorgan Chase & Co. reduced their target price on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Sociedad Química y Minera de Chile from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, March 1st.

Sociedad Química y Minera de Chile Trading Up 1.4 %

Shares of NYSE SQM opened at $49.16 on Monday. The stock has a market capitalization of $14.04 billion, a P/E ratio of 6.97 and a beta of 1.07. The stock’s 50 day moving average price is $45.62 and its two-hundred day moving average price is $50.89. The company has a quick ratio of 1.74, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. Sociedad Química y Minera de Chile has a 52-week low of $38.50 and a 52-week high of $85.03.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.51). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. During the same quarter in the prior year, the firm earned $4.03 EPS. On average, analysts anticipate that Sociedad Química y Minera de Chile will post 3.81 earnings per share for the current fiscal year.

Institutional Trading of Sociedad Química y Minera de Chile

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in Sociedad Química y Minera de Chile by 29.6% during the 2nd quarter. BlackRock Inc. now owns 3,642,918 shares of the basic materials company’s stock worth $264,549,000 after buying an additional 831,423 shares during the period. abrdn plc increased its position in shares of Sociedad Química y Minera de Chile by 4.7% during the third quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after acquiring an additional 119,695 shares in the last quarter. Lazard Asset Management LLC lifted its position in Sociedad Química y Minera de Chile by 44.0% in the 2nd quarter. Lazard Asset Management LLC now owns 2,445,971 shares of the basic materials company’s stock valued at $177,626,000 after acquiring an additional 747,037 shares in the last quarter. Capital International Investors bought a new position in Sociedad Química y Minera de Chile during the 1st quarter worth about $184,773,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Sociedad Química y Minera de Chile by 9.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after purchasing an additional 172,908 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.