Bank of America Issues Positive Forecast for Sociedad Quimica y Minera (NYSE:SQM) Stock Price

Sociedad Quimica y Minera (NYSE:SQM) had its price target boosted by Bank of America from $36.50 to $43.50 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an underperform rating on the basic materials company’s stock.

Other equities research analysts also recently issued reports about the company. Zacks Research upgraded Sociedad Quimica y Minera from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 13th. BMO Capital Markets upped their price objective on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Scotiabank decreased their price objective on Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.10.

Sociedad Quimica y Minera Price Performance

NYSE:SQM opened at $45.72 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 1.96 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $13.06 billion, a P/E ratio of 27.38 and a beta of 1.03. Sociedad Quimica y Minera has a 12 month low of $29.36 and a 12 month high of $47.51. The business’s 50-day moving average is $39.68 and its 200 day moving average is $37.68.

Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.21). The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.Sociedad Quimica y Minera’s quarterly revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. On average, equities research analysts forecast that Sociedad Quimica y Minera will post -1.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group raised its holdings in shares of Sociedad Quimica y Minera by 61,700.0% in the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock worth $25,000 after buying an additional 617 shares during the period. Banque Cantonale Vaudoise bought a new position in Sociedad Quimica y Minera in the first quarter worth approximately $34,000. Farther Finance Advisors LLC grew its stake in Sociedad Quimica y Minera by 153.0% in the second quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 586 shares in the last quarter. Grove Bank & Trust bought a new position in Sociedad Quimica y Minera in the first quarter worth approximately $46,000. Finally, IFP Advisors Inc grew its stake in Sociedad Quimica y Minera by 728.0% in the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 1,092 shares in the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sociedad Quimica y Minera

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.