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 price objective dropped by equities researchers at The Goldman Sachs Group from $54.50 to $46.50 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s price objective indicates a potential upside of 7.49% from the stock’s current price.

Several other brokerages have also issued reports on SQM. BMO Capital Markets decreased their price target 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. StockNews.com cut Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft lowered 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, April 19th. JPMorgan Chase & Co. cut their price target on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. Finally, TheStreet downgraded shares of Sociedad Química y Minera de Chile from a “b-” rating to a “c” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.18.

Sociedad Química y Minera de Chile Price Performance

Sociedad Química y Minera de Chile stock opened at $43.26 on Tuesday. The business’s 50-day simple moving average is $47.11 and its 200 day simple moving average is $49.64. The company has a quick ratio of 1.74, a current ratio of 2.49 and a debt-to-equity ratio of 0.58. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 6.14 and a beta of 1.07. Sociedad Química y Minera de Chile has a 12-month low of $38.50 and a 12-month high of $81.50.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company earned $4.03 EPS. As a group, research analysts anticipate that Sociedad Química y Minera de Chile will post 4.18 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Hedge funds have recently bought and sold shares of the business. CWM LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 40.1% during the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 226 shares in the last quarter. National Bank of Canada FI increased its holdings in Sociedad Química y Minera de Chile by 153.8% in the 3rd quarter. National Bank of Canada FI now owns 825 shares of the basic materials company’s stock valued at $46,000 after buying an additional 500 shares during the period. Accent Capital Management LLC acquired a new position in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at approximately $47,000. EverSource Wealth Advisors LLC boosted its position in shares of Sociedad Química y Minera de Chile by 133.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 475 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Sociedad Química y Minera de Chile during the third quarter valued at approximately $63,000. 12.41% of the stock is owned by institutional investors.

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.