Scotiabank Has Lowered Expectations for Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price

Sociedad Química y Minera de Chile (NYSE:SQM) had its price objective cut by Scotiabank from $60.00 to $50.00 in a research report released on Monday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock. Scotiabank also issued estimates for Sociedad Química y Minera de Chile’s Q4 2024 earnings at $0.46 EPS, FY2024 earnings at ($1.37) EPS and FY2025 earnings at $3.92 EPS.

Several other equities analysts have also recently weighed in on SQM. Jefferies Financial Group reduced their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Berenberg Bank began coverage on Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price target on the stock. Bank of America cut their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research report on Wednesday, August 21st. The Goldman Sachs Group raised shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.56.

Sociedad Química y Minera de Chile Price Performance

SQM opened at $38.56 on Monday. The firm has a 50-day moving average price of $39.64 and a 200-day moving average price of $40.45. Sociedad Química y Minera de Chile has a twelve month low of $32.24 and a twelve month high of $64.62. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $11.01 billion, a price-to-earnings ratio of -34.77 and a beta of 1.03.

Institutional Trading of Sociedad Química y Minera de Chile

Several institutional investors and hedge funds have recently made changes to their positions in SQM. abrdn plc increased its stake in Sociedad Química y Minera de Chile by 2.7% in the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after acquiring an additional 31,955 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Sociedad Química y Minera de Chile by 41.6% during the 2nd quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock valued at $36,661,000 after purchasing an additional 264,324 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Sociedad Química y Minera de Chile by 2.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock valued at $36,984,000 after buying an additional 24,999 shares in the last quarter. Prudential PLC lifted its position in Sociedad Química y Minera de Chile by 18.9% in the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock worth $24,961,000 after buying an additional 97,479 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Sociedad Química y Minera de Chile by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock worth $19,921,000 after buying an additional 13,756 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

About Sociedad Química y Minera de Chile

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.