BMO Capital Markets Lowers Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $45.00

Sociedad Química y Minera de Chile (NYSE:SQM) had its price objective cut by equities researchers at BMO Capital Markets from $55.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. BMO Capital Markets’ price target would indicate a potential upside of 47.88% from the stock’s previous close.

Sociedad Química y Minera de Chile Price Performance

SQM stock opened at $30.43 on Thursday. The stock has a 50-day moving average price of $35.08 and a two-hundred day moving average price of $37.88. Sociedad Química y Minera de Chile has a 12-month low of $30.18 and a 12-month high of $48.21. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The company has a market cap of $8.69 billion, a PE ratio of -27.41, a price-to-earnings-growth ratio of 5.00 and a beta of 1.11.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm posted ($3.04) EPS. Sociedad Química y Minera de Chile’s revenue was down 4.4% on a year-over-year basis. As a group, research analysts predict that Sociedad Química y Minera de Chile will post -1.31 EPS for the current year.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Institutional investors and hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group raised its stake in Sociedad Química y Minera de Chile by 61,700.0% during the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock valued at $25,000 after buying an additional 617 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter worth $34,000. Kestra Investment Management LLC purchased a new stake in shares of Sociedad Química y Minera de Chile in the fourth quarter valued at $39,000. Jones Financial Companies Lllp lifted its holdings in shares of Sociedad Química y Minera de Chile by 803.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 956 shares in the last quarter. Finally, Grove Bank & Trust purchased a new stake in shares of Sociedad Química y Minera de Chile during the first quarter worth $46,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.