Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Lowered to $39.00 at JPMorgan Chase & Co.

Sociedad Química y Minera de Chile (NYSE:SQM) had its price objective decreased by JPMorgan Chase & Co. from $44.00 to $39.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the basic materials company’s stock.

A number of other analysts have also recently weighed in on the stock. Scotiabank reduced their target price on shares of Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a “sector outperform” rating for the company in a report on Friday, May 30th. BMO Capital Markets cut their price objective on Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.14.

Sociedad Química y Minera de Chile Stock Performance

Shares of NYSE SQM opened at $33.34 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94. The firm has a market cap of $9.52 billion, a P/E ratio of -30.04, a PEG ratio of 5.00 and a beta of 1.04. The stock has a fifty day moving average price of $33.88 and a two-hundred day moving average price of $37.50. Sociedad Química y Minera de Chile has a 1 year low of $29.36 and a 1 year high of $45.89.

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

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group raised its stake in Sociedad Química y Minera de Chile by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 617 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Sociedad Química y Minera de Chile during the 1st quarter valued at $34,000. Kestra Investment Management LLC purchased a new position in shares of Sociedad Química y Minera de Chile during the fourth quarter valued at $39,000. Jones Financial Companies Lllp grew its holdings in shares of Sociedad Química y Minera de Chile by 803.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company’s stock valued at $39,000 after buying an additional 956 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of Sociedad Química y Minera de Chile during the first quarter valued at $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.