Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.
Other analysts have also issued reports about the stock. 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 report on Monday, August 24th. Weiss Ratings upgraded Sociedad Quimica y Minera from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. The Goldman Sachs Group lifted their price objective on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Citigroup raised Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating and lowered their target price for the company from $97.00 to $95.00 in a research note on Thursday, August 27th. Finally, JPMorgan Chase & Co. dropped their target price on Sociedad Quimica y Minera from $94.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.30.
View Our Latest Research Report on Sociedad Quimica y Minera
Sociedad Quimica y Minera Trading Down 0.1%
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The basic materials company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.28. Sociedad Quimica y Minera had a net margin of 20.62% and a return on equity of 18.20%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 136.7% on a year-over-year basis. As a group, equities research analysts forecast that Sociedad Quimica y Minera will post 7.3 earnings per share for the current year.
Hedge Funds Weigh In On Sociedad Quimica y Minera
A number of hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC raised its stake in shares of Sociedad Quimica y Minera by 10.3% during the second quarter. Sequoia Financial Advisors LLC now owns 4,154 shares of the basic materials company’s stock valued at $308,000 after acquiring an additional 387 shares during the last quarter. Arlington Capital Management Inc. bought a new stake in shares of Sociedad Quimica y Minera in the second quarter worth about $214,000. Integrated Wealth Concepts LLC bought a new stake in shares of Sociedad Quimica y Minera in the second quarter worth about $102,000. Nykredit A S purchased a new position in Sociedad Quimica y Minera during the 2nd quarter valued at about $2,756,000. Finally, Wellington Management Group LLP purchased a new position in Sociedad Quimica y Minera during the 2nd quarter valued at about $6,576,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.
About Sociedad Quimica y Minera
Sociedad Química y Minera de Chile SA (NYSE: SQM), commonly known as SQM, is a Chilean mining and chemicals company headquartered in Santiago. Its operations are centered in northern Chile, where it extracts mineral resources and processes them into products used in agriculture, industry and technology.
SQM is one of the world’s major producers of lithium and lithium derivatives, including lithium carbonate and lithium hydroxide used in rechargeable batteries and other applications. The company also produces specialty plant nutrients and potassium-based fertilizers, as well as iodine and iodine derivatives used in areas such as healthcare, nutrition and industrial manufacturing.
In addition, SQM produces industrial chemicals, including potassium chloride, potassium sulfate and certain industrial salts.
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