JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Sociedad Quimica y Minera (NYSE:SQM) Stock

Sociedad Quimica y Minera (NYSE:SQM) had its price target increased by JPMorgan Chase & Co. from $39.00 to $41.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other research analysts have also recently issued research reports about the stock. Scotiabank lowered their price target on shares of Sociedad Quimica y Minera 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 reduced their price objective on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.43.

Sociedad Quimica y Minera Price Performance

Shares of SQM stock opened at $37.35 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm’s 50-day moving average is $35.26 and its two-hundred day moving average is $37.16. Sociedad Quimica y Minera has a 12 month low of $29.36 and a 12 month high of $45.89. The company has a market capitalization of $10.67 billion, a PE ratio of 17.70 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM) last announced its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.15). Sociedad Quimica y Minera had a net margin of 13.45% and a return on equity of 11.71%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business earned ($3.04) earnings per share. Sociedad Quimica y Minera’s revenue was down 4.4% on a year-over-year basis. Analysts predict that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

Institutional investors have recently bought and sold shares of the company. Soros Fund Management LLC acquired a new position in Sociedad Quimica y Minera in the 4th quarter valued at $5,619,000. Earnest Partners LLC grew its stake in shares of Sociedad Quimica y Minera by 1.8% during the 4th quarter. Earnest Partners LLC now owns 1,071,339 shares of the basic materials company’s stock worth $38,954,000 after purchasing an additional 18,748 shares during the period. MGO One Seven LLC acquired a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth $642,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Sociedad Quimica y Minera by 121.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company’s stock worth $2,236,000 after purchasing an additional 33,797 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC grew its stake in shares of Sociedad Quimica y Minera by 86.5% during the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company’s stock worth $1,245,000 after purchasing an additional 15,879 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

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.