Analysts Set Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Target Price at $66.58

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) have received an average rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $65.98.

SQM has been the subject of several recent research reports. BMO Capital Markets cut their price target on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a “hold” rating for the company in a research note on Friday. Jefferies Financial Group upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and upped their target price for the stock from $52.00 to $62.80 in a research note on Monday, April 8th. JPMorgan Chase & Co. cut their target price on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, Scotiabank cut their target price on Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating for the company in a research note on Monday, March 4th.

Sociedad Química y Minera de Chile Trading Down 1.8 %

Shares of SQM stock opened at $44.99 on Friday. 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 stock has a market cap of $12.85 billion, a P/E ratio of 6.38 and a beta of 1.07. The stock has a 50 day simple moving average of $46.96 and a 200 day simple moving average of $49.77. Sociedad Química y Minera de Chile has a 1 year low of $38.50 and a 1 year high of $81.50.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Insight Folios Inc increased its holdings in shares of Sociedad Química y Minera de Chile by 5.6% during the first quarter. Insight Folios Inc now owns 68,453 shares of the basic materials company’s stock worth $3,365,000 after buying an additional 3,600 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in Sociedad Química y Minera de Chile in the first quarter valued at $499,000. Wealth Enhancement Advisory Services LLC increased its holdings in Sociedad Química y Minera de Chile by 16.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,636 shares of the basic materials company’s stock valued at $621,000 after purchasing an additional 1,830 shares during the period. BCS Wealth Management acquired a new stake in Sociedad Química y Minera de Chile in the first quarter valued at $202,000. Finally, Ridgewood Investments LLC increased its holdings in Sociedad Química y Minera de Chile by 8.0% in the first quarter. Ridgewood Investments LLC now owns 7,417 shares of the basic materials company’s stock valued at $365,000 after purchasing an additional 550 shares during the period. 12.41% of the stock is currently 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.