Sociedad Quimica y Minera (NYSE:SQM) Shares Gap Up – Here’s Why

Sociedad Quimica y Minera S.A. (NYSE:SQM) shares gapped up before the market opened on Wednesday . The stock had previously closed at $59.40, but opened at $62.69. Sociedad Quimica y Minera shares last traded at $62.6660, with a volume of 1,227,856 shares traded.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Rothschild & Co Redburn started coverage on Sociedad Quimica y Minera in a report on Friday, October 24th. They issued a “neutral” rating and a $54.00 price objective on the stock. JPMorgan Chase & Co. upped their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Zacks Research upgraded shares of Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 13th. Jefferies Financial Group restated 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. Finally, BMO Capital Markets upped their price objective on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.81.

Sociedad Quimica y Minera Stock Performance

The firm has a 50-day moving average of $45.79 and a two-hundred day moving average of $40.57. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $17.95 billion, a PE ratio of 37.62 and a beta of 1.14.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Tuesday, November 18th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.07). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. Research analysts anticipate that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV increased its stake in Sociedad Quimica y Minera by 5.4% during the 2nd quarter. KBC Group NV now owns 118,007 shares of the basic materials company’s stock worth $4,162,000 after buying an additional 6,087 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Sociedad Quimica y Minera in the first quarter valued at approximately $309,000. Integrated Quantitative Investments LLC acquired a new stake in shares of Sociedad Quimica y Minera in the second quarter worth approximately $1,678,000. FORA Capital LLC purchased a new stake in shares of Sociedad Quimica y Minera during the first quarter worth approximately $573,000. Finally, Northern Trust Corp increased its position in shares of Sociedad Quimica y Minera by 17.9% during the first quarter. Northern Trust Corp now owns 346,259 shares of the basic materials company’s stock worth $13,757,000 after purchasing an additional 52,460 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

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.