Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Cut to $48.00 by Analysts at Deutsche Bank Aktiengesellschaft

Sociedad Química y Minera de Chile (NYSE:SQMFree Report) had its price target lowered by Deutsche Bank Aktiengesellschaft from $52.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has a hold rating on the basic materials company’s stock.

Several other research analysts have also commented on SQM. BMO Capital Markets dropped their price target on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Friday. Scotiabank upped their price objective on shares of Sociedad Química y Minera de Chile from $72.00 to $80.00 and gave the stock a sector outperform rating in a report on Tuesday, January 2nd. The Goldman Sachs Group raised shares of Sociedad Química y Minera de Chile from a sell rating to a neutral rating and set a $54.50 price objective for the company in a report on Friday, December 15th. TheStreet downgraded shares of Sociedad Química y Minera de Chile from a b- rating to a c rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating for the company in a report on Tuesday, February 6th. Two equities 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $67.00.

Read Our Latest Stock Analysis on Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM opened at $48.15 on Friday. The company’s fifty day moving average is $47.86 and its 200-day moving average is $52.68. Sociedad Química y Minera de Chile has a 12 month low of $38.50 and a 12 month high of $89.59. The firm has a market cap of $13.75 billion, a price-to-earnings ratio of 6.83 and a beta of 1.07. The company has a quick ratio of 1.74, a current ratio of 2.49 and a debt-to-equity ratio of 0.58.

Sociedad Química y Minera de Chile (NYSE:SQMGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a return on equity of 37.86% and a net margin of 26.95%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the company earned $4.03 EPS. Equities analysts expect that Sociedad Química y Minera de Chile will post 4.65 EPS for the current fiscal year.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds have recently bought and sold shares of SQM. BlackRock Inc. lifted its holdings in shares of Sociedad Química y Minera de Chile by 29.6% during the 2nd quarter. BlackRock Inc. now owns 3,642,918 shares of the basic materials company’s stock worth $264,549,000 after acquiring an additional 831,423 shares during the period. abrdn plc increased its position in shares of Sociedad Química y Minera de Chile by 4.7% during the 3rd quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after purchasing an additional 119,695 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of Sociedad Química y Minera de Chile by 44.0% during the 2nd quarter. Lazard Asset Management LLC now owns 2,445,971 shares of the basic materials company’s stock worth $177,626,000 after purchasing an additional 747,037 shares in the last quarter. Capital International Investors acquired a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter worth about $184,773,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Sociedad Química y Minera de Chile by 9.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after acquiring an additional 172,908 shares in the last quarter. 14.94% of the stock is owned by institutional investors.

About Sociedad Química y Minera de Chile

(Get Free Report)

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.

Further Reading

Analyst Recommendations for Sociedad Química y Minera de Chile (NYSE:SQM)

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