Analysts Set Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Price Target at $56.43

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $56.43.

Several analysts have commented on the stock. BMO Capital Markets lowered their price objective on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. The Goldman Sachs Group raised shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America cut their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC bought a new position in shares of Sociedad Química y Minera de Chile during the first quarter worth about $34,000. Blue Trust Inc. lifted its holdings in Sociedad Química y Minera de Chile by 396.2% during the 2nd quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock worth $37,000 after buying an additional 729 shares during the last quarter. CWM LLC lifted its holdings in Sociedad Química y Minera de Chile by 40.1% during the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after buying an additional 226 shares during the last quarter. Accent Capital Management LLC bought a new position in Sociedad Química y Minera de Chile during the 4th quarter worth approximately $47,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Sociedad Química y Minera de Chile by 133.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 475 shares in the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Price Performance

Shares of NYSE:SQM opened at $38.64 on Thursday. The company has a market capitalization of $11.04 billion, a P/E ratio of 27.80, a P/E/G ratio of 11.53 and a beta of 1.05. Sociedad Química y Minera de Chile has a 1-year low of $32.24 and a 1-year high of $66.45. The firm’s 50 day simple moving average is $39.13 and its two-hundred day simple moving average is $44.00. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.34 and a quick ratio of 1.61.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.24). The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 6.25% and a return on equity of 30.74%. During the same quarter in the previous year, the business earned $2.03 EPS. Research analysts expect that Sociedad Química y Minera de Chile will post 1.36 EPS for the current fiscal year.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.