Analysts Set Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Target Price at $56.43

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $53.94.

Several equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Berenberg Bank assumed coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price objective for the company. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Bank of America reduced their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a report on Wednesday, August 21st. Finally, BMO Capital Markets reduced their price objective on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, May 24th.

Sociedad Química y Minera de Chile Stock Down 1.0 %

SQM opened at $37.18 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.34 and a quick ratio of 1.61. The business has a 50 day simple moving average of $38.88 and a 200-day simple moving average of $43.95. The stock has a market capitalization of $10.62 billion, a P/E ratio of 26.75, a P/E/G ratio of 11.53 and a beta of 1.05. Sociedad Química y Minera de Chile has a 12 month low of $32.24 and a 12 month high of $64.62.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.24). The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. During the same period in the prior year, the firm posted $2.03 earnings per share. On average, equities analysts anticipate that Sociedad Química y Minera de Chile will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

A number of institutional investors have recently made changes to their positions in SQM. CWM LLC grew its position in shares of Sociedad Química y Minera de Chile by 40.1% in the first quarter. CWM LLC now owns 790 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 226 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Sociedad Química y Minera de Chile by 0.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock valued at $3,876,000 after purchasing an additional 275 shares during the period. Greenleaf Trust grew its position in shares of Sociedad Química y Minera de Chile by 3.7% in the first quarter. Greenleaf Trust now owns 8,216 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 295 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Sociedad Química y Minera de Chile by 3.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 401 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in shares of Sociedad Química y Minera de Chile by 5.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,293 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 450 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

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.