The Goldman Sachs Group Lowers Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $46.50

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price decreased by The Goldman Sachs Group from $54.50 to $46.50 in a research note issued to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the basic materials company’s stock.

A number of other brokerages also recently commented on SQM. JPMorgan Chase & Co. lowered their price target on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating for the company in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a hold rating for the company in a report on Friday, April 19th. TheStreet downgraded shares of Sociedad Química y Minera de Chile from a b- rating to a c rating in a report on Friday, February 2nd. BMO Capital Markets lowered their target price on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an outperform rating for the company in a report on Friday, March 1st. Finally, StockNews.com downgraded shares of Sociedad Química y Minera de Chile from a hold rating to a sell rating in a report on Monday, March 4th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sociedad Química y Minera de Chile has an average rating of Hold and a consensus target price of $65.18.

Sociedad Química y Minera de Chile Stock Performance

NYSE:SQM opened at $44.16 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $47.21 and a two-hundred day moving average price of $49.55. Sociedad Química y Minera de Chile has a twelve month low of $38.50 and a twelve month high of $81.50. The company has a market capitalization of $12.61 billion, a P/E ratio of 6.26 and a beta of 1.07.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its earnings results on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted $4.03 earnings per share. As a group, research analysts expect that Sociedad Química y Minera de Chile will post 4.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP acquired a new position in Sociedad Química y Minera de Chile during the third quarter valued at approximately $9,794,000. abrdn plc lifted its position in Sociedad Química y Minera de Chile by 4.7% during the third quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock valued at $157,712,000 after buying an additional 119,695 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Sociedad Química y Minera de Chile by 20.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 73,776 shares of the basic materials company’s stock valued at $4,402,000 after buying an additional 12,759 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Sociedad Química y Minera de Chile by 9.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after buying an additional 172,908 shares in the last quarter. Finally, Bronte Capital Management Pty Ltd. lifted its position in Sociedad Química y Minera de Chile by 98.2% during the third quarter. Bronte Capital Management Pty Ltd. now owns 153,080 shares of the basic materials company’s stock valued at $9,134,000 after buying an additional 75,849 shares in the last quarter. 12.41% of the stock is owned by institutional investors and hedge funds.

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.