Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Cut to $46.50 by Analysts at The Goldman Sachs Group

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price cut by The Goldman Sachs Group from $54.50 to $46.50 in a report released on Tuesday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also issued reports on SQM. BMO Capital Markets lowered their price target on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an outperform rating on the stock in a report on Friday, March 1st. TheStreet lowered shares of Sociedad Química y Minera de Chile from a b- rating to a c rating in a report on Friday, February 2nd. Jefferies Financial Group raised shares of Sociedad Química y Minera de Chile from a hold rating to a buy rating and boosted their price target for the company from $52.00 to $62.80 in a report on Monday, April 8th. Scotiabank lowered their target price 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 report on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating on the stock in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $65.18.

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM opened at $44.16 on Tuesday. The company’s 50 day moving average price is $47.21 and its 200 day moving average price is $49.55. Sociedad Química y Minera de Chile has a 52 week low of $38.50 and a 52 week high of $81.50. The company has a market capitalization of $12.61 billion, a PE ratio of 6.26 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 2.49.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a return on equity of 37.86% and a net margin of 26.95%. The firm had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Research analysts expect that Sociedad Química y Minera de Chile will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. abrdn plc lifted its position in Sociedad Química y Minera de Chile by 4.7% during the 3rd quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after buying an additional 119,695 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Sociedad Química y Minera de Chile by 9.5% during 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. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Sociedad Química y Minera de Chile by 37.2% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,747,264 shares of the basic materials company’s stock valued at $104,259,000 after purchasing an additional 474,000 shares during the period. CI Investments Inc. lifted its position in Sociedad Química y Minera de Chile by 5.3% during the 3rd quarter. CI Investments Inc. now owns 1,523,519 shares of the basic materials company’s stock valued at $90,908,000 after purchasing an additional 76,054 shares during the period. Finally, Robeco Schweiz AG lifted its position in Sociedad Química y Minera de Chile by 23.4% during the 1st quarter. Robeco Schweiz AG now owns 1,407,650 shares of the basic materials company’s stock valued at $69,200,000 after purchasing an additional 267,005 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.