Zacks Investment Research upgraded shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) from a hold rating to a buy rating in a research report report published on Wednesday. Zacks Investment Research currently has $49.00 price target on the basic materials company’s stock.
According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “
SQM has been the topic of several other reports. BidaskClub raised shares of Sociedad Quimica y Minera from a hold rating to a buy rating in a research report on Monday, July 24th. Deutsche Bank AG lifted their target price on shares of Sociedad Quimica y Minera from $36.00 to $38.00 and gave the company a hold rating in a report on Monday, May 22nd. BMO Capital Markets reaffirmed a hold rating and issued a $35.00 target price on shares of Sociedad Quimica y Minera in a report on Friday, July 7th. Finally, Vetr raised shares of Sociedad Quimica y Minera from a buy rating to a strong-buy rating and set a $38.88 target price on the stock in a report on Wednesday, May 3rd. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $39.18.
Sociedad Quimica y Minera (SQM) opened at 47.71 on Wednesday. The company has a market capitalization of $12.56 billion, a PE ratio of 38.88 and a beta of 1.06. The company has a 50-day moving average price of $40.55 and a 200-day moving average price of $35.94. Sociedad Quimica y Minera has a one year low of $24.75 and a one year high of $48.12.
Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings data on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Sociedad Quimica y Minera had a return on equity of 14.81% and a net margin of 16.28%. The business had revenue of $505.70 million for the quarter, compared to analysts’ expectations of $500.49 million. Analysts expect that Sociedad Quimica y Minera will post $1.53 earnings per share for the current fiscal year.
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Several hedge funds have recently modified their holdings of the stock. Invictus RG increased its stake in shares of Sociedad Quimica y Minera by 164.1% in the first quarter. Invictus RG now owns 3,072 shares of the basic materials company’s stock valued at $106,000 after buying an additional 1,909 shares during the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Sociedad Quimica y Minera during the second quarter valued at $116,000. Financial Architects Inc increased its stake in shares of Sociedad Quimica y Minera by 18,723.8% in the first quarter. Financial Architects Inc now owns 3,953 shares of the basic materials company’s stock valued at $136,000 after buying an additional 3,932 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Sociedad Quimica y Minera during the first quarter valued at $136,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Sociedad Quimica y Minera by 20.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,200 shares of the basic materials company’s stock valued at $144,000 after buying an additional 700 shares during the last quarter. 16.74% of the stock is currently owned by institutional investors and hedge funds.
Sociedad Quimica y Minera Company Profile
Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.
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