J. Safra Sarasin Holding AG acquired a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM – Free Report) during the 1st quarter, Holdings Channel.com reports. The fund acquired 8,500 shares of the basic materials company’s stock, valued at approximately $688,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Castle Hook Partners LP acquired a new stake in shares of Sociedad Quimica y Minera during the fourth quarter worth about $69,257,000. Bank of America Corp DE raised its stake in Sociedad Quimica y Minera by 87.4% during the 3rd quarter. Bank of America Corp DE now owns 1,239,588 shares of the basic materials company’s stock valued at $53,278,000 after acquiring an additional 578,175 shares during the last quarter. Van ECK Associates Corp grew its stake 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 during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Sociedad Quimica y Minera in the fourth quarter valued at approximately $26,973,000. Finally, Schroder Investment Management Group increased its holdings in shares of Sociedad Quimica y Minera by 62.7% in the fourth quarter. Schroder Investment Management Group now owns 799,201 shares of the basic materials company’s stock valued at $54,985,000 after purchasing an additional 307,983 shares during the period. 12.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Wall Street Zen raised shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research note on Sunday. CLSA upgraded shares of Sociedad Quimica y Minera to an “outperform” rating in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating for the company in a report on Tuesday. Zacks Research lowered Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Finally, The Goldman Sachs Group boosted their target price on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sociedad Quimica y Minera currently has an average rating of “Hold” and an average target price of $74.58.
Sociedad Quimica y Minera Trading Down 1.9%
Shares of SQM opened at $71.60 on Thursday. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58. The firm’s 50-day moving average is $79.35 and its two-hundred day moving average is $78.85. Sociedad Quimica y Minera S.A. has a twelve month low of $35.67 and a twelve month high of $98.00. The firm has a market capitalization of $20.45 billion, a P/E ratio of 25.12, a PEG ratio of 0.20 and a beta of 0.97.
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last issued its earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. The company had revenue of $1.76 billion during the quarter. On average, research analysts predict that Sociedad Quimica y Minera S.A. will post 7.25 earnings per share for the current fiscal year.
Sociedad Quimica y Minera Profile
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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