Sociedad Quimica y Minera de Chile (SQM) Receives Consensus Rating of “Buy” from Analysts

Shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) have been given a consensus recommendation of “Buy” by the twelve research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $58.78.

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded Sociedad Quimica y Minera de Chile from a “neutral” rating to an “overweight” rating and set a $65.00 target price for the company in a research report on Wednesday, February 7th. Scotiabank set a $50.00 target price on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets boosted their target price on Sociedad Quimica y Minera de Chile to $60.00 and gave the stock an “average” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Citigroup upgraded Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 17th.

Large investors have recently added to or reduced their stakes in the stock. Iridian Asset Management LLC CT bought a new stake in Sociedad Quimica y Minera de Chile in the fourth quarter valued at approximately $135,108,000. Standard Life Aberdeen plc bought a new stake in Sociedad Quimica y Minera de Chile in the fourth quarter valued at approximately $120,534,000. Global X MANAGEMENT CO LLC lifted its position in Sociedad Quimica y Minera de Chile by 135.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,279,880 shares of the basic materials company’s stock valued at $126,898,000 after purchasing an additional 1,311,641 shares during the last quarter. BlackRock Inc. lifted its position in Sociedad Quimica y Minera de Chile by 44.3% in the fourth quarter. BlackRock Inc. now owns 1,518,151 shares of the basic materials company’s stock valued at $90,132,000 after purchasing an additional 466,339 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Sociedad Quimica y Minera de Chile by 34.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,214,300 shares of the basic materials company’s stock valued at $72,093,000 after purchasing an additional 313,000 shares during the last quarter. Institutional investors own 13.11% of the company’s stock.

Shares of Sociedad Quimica y Minera de Chile (SQM) traded up $0.67 during midday trading on Tuesday, hitting $55.23. The stock had a trading volume of 661,074 shares, compared to its average volume of 1,530,000. Sociedad Quimica y Minera de Chile has a 52 week low of $30.82 and a 52 week high of $64.20. The company has a quick ratio of 2.31, a current ratio of 3.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $14,810.00, a price-to-earnings ratio of 36.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Wednesday, November 22nd. The basic materials company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Sociedad Quimica y Minera de Chile had a return on equity of 17.58% and a net margin of 18.52%. The company had revenue of $558.70 million during the quarter, compared to analyst estimates of $515.15 million. analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.65 EPS for the current year.

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About Sociedad Quimica y Minera de Chile

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.

Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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