Sociedad Quimica y Minera (NYSE:SQM) Downgraded by Wall Street Zen to Buy

Wall Street Zen cut shares of Sociedad Quimica y Minera (NYSE:SQM) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

Several other research firms have also weighed in on SQM. Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Scotiabank decreased their target price on Sociedad Quimica y Minera from $105.00 to $93.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 28th. CLSA raised Sociedad Quimica y Minera to an “outperform” rating in a research note on Tuesday, June 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group increased their price target on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.58.

Sociedad Quimica y Minera Stock Performance

Shares of Sociedad Quimica y Minera stock opened at $67.00 on Friday. The firm has a fifty day moving average of $74.97 and a two-hundred day moving average of $78.53. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The stock has a market capitalization of $19.14 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 0.18 and a beta of 0.97. Sociedad Quimica y Minera has a 52 week low of $35.67 and a 52 week high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM) last posted its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The business had revenue of $1.76 billion for the quarter. As a group, equities research analysts predict that Sociedad Quimica y Minera will post 7.45 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sociedad Quimica y Minera during the fourth quarter worth $29,000. Fulcrum Asset Management LLP bought a new stake in Sociedad Quimica y Minera in the 3rd quarter valued at $43,000. Signaturefd LLC lifted its position in Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 177 shares in the last quarter. Triumph Capital Management acquired a new position in Sociedad Quimica y Minera in the 3rd quarter worth $49,000. Finally, Leonteq Securities AG acquired a new position in Sociedad Quimica y Minera in the 4th quarter worth $58,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.