Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday.
A number of other analysts also recently issued reports on the stock. Scotiabank raised their price target on shares of Sociedad Quimica y Minera from $100.00 to $105.00 and gave the company a “sector outperform” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. cut shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $94.00 to $100.00 in a report on Tuesday, June 2nd. The Goldman Sachs Group set a $100.00 price objective on shares of Sociedad Quimica y Minera in a research report on Tuesday, June 2nd. Zacks Research cut shares of Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, CLSA raised shares of Sociedad Quimica y Minera to an “outperform” rating in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.50.
View Our Latest Analysis on SQM
Sociedad Quimica y Minera Stock Down 1.3%
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last released its quarterly earnings data on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The company had revenue of $1.76 billion for the quarter. Research analysts predict that Sociedad Quimica y Minera will post 7.25 EPS for the current fiscal year.
Hedge Funds Weigh In On Sociedad Quimica y Minera
Several institutional investors have recently made changes to their positions in the business. Castle Hook Partners LP bought a new position in Sociedad Quimica y Minera in the 4th quarter worth $69,257,000. Earnest Partners LLC grew its holdings in Sociedad Quimica y Minera by 81.9% during the third quarter. Earnest Partners LLC now owns 1,911,668 shares of the basic materials company’s stock valued at $82,163,000 after purchasing an additional 860,984 shares during the period. Altshuler Shaham Ltd purchased a new stake in Sociedad Quimica y Minera in the first quarter worth about $50,183,000. Bamco Inc. NY purchased a new stake in Sociedad Quimica y Minera in the third quarter worth about $25,828,000. Finally, Bank of America Corp DE raised its stake in shares of Sociedad Quimica y Minera by 87.4% in 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 buying an additional 578,175 shares during the period. Institutional investors 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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