Sociedad Quimica y Minera S.A. (NYSE:SQM) Receives $70.63 Average Price Target from Analysts

Shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) have earned a consensus recommendation of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $71.4167.

A number of equities analysts have commented on SQM shares. Scotiabank increased their target price on Sociedad Quimica y Minera from $90.00 to $100.00 and gave the company a “sector outperform” rating in a report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Sociedad Quimica y Minera from $88.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Wall Street Zen upgraded Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. BMO Capital Markets reissued an “outperform” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, March 4th. Finally, UBS Group set a $79.00 price objective on Sociedad Quimica y Minera in a report on Wednesday, December 17th.

Hedge Funds Weigh In On Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new stake in Sociedad Quimica y Minera during the 4th quarter valued at about $29,000. GAMMA Investing LLC lifted its stake in Sociedad Quimica y Minera by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 256 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in Sociedad Quimica y Minera in the 3rd quarter worth approximately $43,000. Signaturefd LLC boosted its holdings in shares of Sociedad Quimica y Minera by 37.0% during the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 177 shares during the last quarter. Finally, Triumph Capital Management acquired a new position in shares of Sociedad Quimica y Minera during the 3rd quarter worth approximately $49,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Stock Down 0.2%

SQM stock opened at $80.74 on Wednesday. Sociedad Quimica y Minera has a 52 week low of $29.36 and a 52 week high of $86.13. The company has a quick ratio of 2.25, a current ratio of 3.27 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $75.95 and a 200-day simple moving average of $63.69. The stock has a market capitalization of $23.06 billion, a P/E ratio of 39.38 and a beta of 0.99.

Sociedad Quimica y Minera (NYSE:SQM) last issued its quarterly earnings results on Saturday, February 14th. The basic materials company reported $0.64 earnings per share for the quarter. Sociedad Quimica y Minera had a net margin of 12.85% and a return on equity of 9.69%. The firm had revenue of $1.32 billion for the quarter. Equities analysts forecast that Sociedad Quimica y Minera will post -1.31 earnings per share for the current fiscal year.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.