Sociedad Química y Minera de Chile (NYSE:SQM) Receives New Coverage from Analysts at Berenberg Bank

Investment analysts at Berenberg Bank began coverage on shares of Sociedad Química y Minera de Chile (NYSE:SQM) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage set a “hold” rating and a $35.00 price target on the basic materials company’s stock. Berenberg Bank’s target price would indicate a potential downside of 4.53% from the company’s previous close.

Several other brokerages have also recently weighed in on SQM. Jefferies Financial Group upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and raised their price objective for the company from $52.00 to $62.80 in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reduced their price target on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Bank of America reduced their price target on Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, June 4th. The Goldman Sachs Group cut their price objective on shares of Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, BMO Capital Markets cut their price objective on shares of Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.33.

Sociedad Química y Minera de Chile Stock Performance

SQM stock opened at $36.66 on Wednesday. The business’s fifty day moving average is $42.57 and its 200-day moving average is $45.12. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 0.63. The company has a market cap of $10.47 billion, a P/E ratio of 26.37, a price-to-earnings-growth ratio of 268.79 and a beta of 1.05. Sociedad Química y Minera de Chile has a twelve month low of $36.16 and a twelve month high of $72.94.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Thursday, May 23rd. The basic materials company reported $0.80 EPS for the quarter, topping the consensus estimate of ($1.72) by $2.52. The business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.06 billion. Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. Equities research analysts forecast that Sociedad Química y Minera de Chile will post 0.06 EPS for the current year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in shares of Sociedad Química y Minera de Chile during the first quarter valued at about $34,000. Blue Trust Inc. lifted its position in Sociedad Química y Minera de Chile by 396.2% in the 2nd quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 729 shares in the last quarter. CWM LLC lifted its position in Sociedad Química y Minera de Chile by 40.1% in the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 226 shares in the last quarter. Accent Capital Management LLC bought a new position in Sociedad Química y Minera de Chile in the 4th quarter valued at about $47,000. Finally, EverSource Wealth Advisors LLC lifted its position in Sociedad Química y Minera de Chile by 133.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 475 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company’s stock.

About Sociedad Química y Minera de Chile

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.