Sociedad Quimica y Minera S.A. (NYSE:SQM) Receives $75.27 Average PT from Analysts

Sociedad Quimica y Minera S.A. (NYSE:SQMGet Free Report) has earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $76.2727.

Several research firms recently commented on SQM. Scotiabank upped their price target on shares of Sociedad Quimica y Minera from $93.00 to $104.00 and gave the company a “sector outperform” rating in a research note on Monday. JPMorgan Chase & Co. cut shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $94.00 to $100.00 in a research note on Tuesday, June 2nd. CLSA raised shares of Sociedad Quimica y Minera to an “outperform” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group increased their target price on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Sociedad Quimica y Minera from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st.

View Our Latest Stock Report on SQM

Hedge Funds Weigh In On Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Castle Hook Partners LP acquired a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth approximately $69,257,000. Altshuler Shaham Ltd acquired a new position in Sociedad Quimica y Minera during the first quarter valued at approximately $50,183,000. Bank of America Corp DE lifted its stake in Sociedad Quimica y Minera by 87.4% during the third quarter. Bank of America Corp DE now owns 1,239,588 shares of the basic materials company’s stock worth $53,278,000 after purchasing an additional 578,175 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Sociedad Quimica y Minera by 602.0% during the first quarter. Renaissance Technologies LLC now owns 502,484 shares of the basic materials company’s stock worth $40,671,000 after purchasing an additional 430,900 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Sociedad Quimica y Minera by 24.7% in the 4th quarter. Van ECK Associates Corp now owns 2,089,638 shares of the basic materials company’s stock valued at $143,767,000 after purchasing an additional 413,246 shares in the last quarter. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Stock Performance

NYSE:SQM opened at $78.30 on Friday. The stock has a 50 day simple moving average of $72.79 and a 200 day simple moving average of $77.82. The stock has a market cap of $22.37 billion, a P/E ratio of 16.14, a PEG ratio of 0.27 and a beta of 0.98. Sociedad Quimica y Minera has a 1-year low of $40.58 and a 1-year high of $98.00. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58.

Sociedad Quimica y Minera (NYSE:SQMGet Free Report) last issued its quarterly earnings data on Friday, August 14th. The basic materials company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.28. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 136.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. Research analysts anticipate that Sociedad Quimica y Minera will post 7.4 earnings per share for the current year.

Sociedad Quimica y Minera Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Sociedad Quimica y Minera (NYSE:SQM)

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