Wall Street Zen lowered shares of Sociedad Quimica y Minera (NYSE:SQM – Free Report) from a strong-buy rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.
Several other analysts have also recently issued reports on SQM. Citigroup upgraded Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating and cut their target price for the stock from $97.00 to $95.00 in a research report on Thursday, August 27th. Weiss Ratings cut Sociedad Quimica y Minera from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, October 12th. Scotiabank upped their price target on Sociedad Quimica y Minera from $93.00 to $104.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 24th. The Goldman Sachs Group upped their price target on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sociedad Quimica y Minera presently has an average rating of “Hold” and a consensus price target of $82.56.
Read Our Latest Report on Sociedad Quimica y Minera
Sociedad Quimica y Minera Trading Down 0.4%
Shares of Sociedad Quimica y Minera stock opened at $60.23 on Friday. Sociedad Quimica y Minera has a fifty-two week low of $41.94 and a fifty-two week high of $98.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.96 and a current ratio of 2.61. The company has a market capitalization of $17.20 billion, a P/E ratio of 12.42, a P/E/G ratio of 0.21 and a beta of 1.05. The company has a fifty day moving average of $71.25 and a 200 day moving average of $76.57.
Sociedad Quimica y Minera (NYSE:SQM – Get Free Report) last posted its quarterly earnings results 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. Sociedad Quimica y Minera had a return on equity of 18.20% and a net margin of 20.62%. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period last year, the firm earned $0.79 earnings per share. The business’s quarterly revenue was up 136.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sociedad Quimica y Minera will post 7.45 earnings per share for the current fiscal year.
Sociedad Quimica y Minera Dividend Announcement
The business also recently disclosed a special dividend, which was paid on Monday, September 21st. Shareholders of record on Tuesday, September 8th were issued a dividend of $1.4350 per share. The ex-dividend date of this dividend was Tuesday, September 8th. Sociedad Quimica y Minera’s dividend payout ratio is 34.85%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Amundi lifted its position in shares of Sociedad Quimica y Minera by 15.0% in the first quarter. Amundi now owns 640,499 shares of the basic materials company’s stock worth $51,842,000 after buying an additional 83,738 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Sociedad Quimica y Minera during the 1st quarter valued at approximately $50,183,000. Renaissance Technologies LLC increased its stake in Sociedad Quimica y Minera by 602.0% in the 1st quarter. Renaissance Technologies LLC now owns 502,484 shares of the basic materials company’s stock worth $40,671,000 after acquiring an additional 430,900 shares during the last quarter. ABN Amro Investment Solutions increased its stake in Sociedad Quimica y Minera by 87.1% in the 1st quarter. ABN Amro Investment Solutions now owns 265,677 shares of the basic materials company’s stock worth $21,504,000 after acquiring an additional 123,700 shares during the last quarter. Finally, ARGA Investment Management LP purchased a new stake in shares of Sociedad Quimica y Minera during the 1st quarter worth approximately $21,297,000. 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) is a Chile-based mining and chemicals company that produces lithium, iodine, specialty plant nutrients and industrial chemicals. Its operations are primarily located in northern Chile, where the company extracts mineral resources from the Salar de Atacama and other deposits.
SQM is one of the world’s significant producers of lithium compounds, including lithium carbonate and lithium hydroxide, which are used in rechargeable batteries, energy-storage systems, electric vehicles and other industrial applications.
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