Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.
A number of other research analysts also recently commented on the company. Scotiabank dropped their price target on Sociedad Quimica y Minera from $105.00 to $93.00 and set a “sector outperform” rating for the company in a research note on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, June 24th. JPMorgan Chase & Co. lowered shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and raised their target price for the company from $94.00 to $100.00 in a report on Tuesday, June 2nd. CLSA upgraded shares of Sociedad Quimica y Minera to an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.27.
Check Out Our Latest Research Report on SQM
Sociedad Quimica y Minera Trading Up 0.2%
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.28. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Sociedad Quimica y Minera had a return on equity of 19.08% and a net margin of 20.62%.The company’s quarterly revenue was up 136.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. On average, research analysts anticipate that Sociedad Quimica y Minera will post 7.33 EPS for the current fiscal year.
Hedge Funds Weigh In On Sociedad Quimica y Minera
A number of institutional investors have recently modified their holdings of SQM. Caitong International Asset Management Co. Ltd acquired a new stake in Sociedad Quimica y Minera in the fourth quarter valued at about $29,000. Parallel Advisors LLC raised its stake in Sociedad Quimica y Minera by 43.2% during the first quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Sociedad Quimica y Minera by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 313 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Sociedad Quimica y Minera in the fourth quarter worth about $58,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Sociedad Quimica y Minera in the 4th quarter valued at approximately $60,000. Institutional investors and hedge funds own 12.41% of the company’s stock.
About Sociedad Quimica y Minera
Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.
SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.
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