Sociedad Química y Minera de Chile (NYSE:SQM) Rating Lowered to Hold at StockNews.com

Posted by on Apr 11th, 2023

StockNews.com lowered shares of Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) from a buy rating to a hold rating in a report issued on Monday morning.

A number of other brokerages have also weighed in on SQM. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sociedad Química y Minera de Chile from $125.00 to $95.00 in a research note on Tuesday, January 10th. Scotiabank upgraded Sociedad Química y Minera de Chile from a sector perform rating to a sector outperform rating in a research report on Thursday, March 2nd. Citigroup downgraded Sociedad Química y Minera de Chile from a buy rating to a neutral rating and dropped their price objective for the stock from $112.00 to $92.00 in a research note on Thursday, December 15th. Finally, Bank of America raised Sociedad Química y Minera de Chile from an underperform rating to a neutral rating and decreased their target price for the company from $90.00 to $85.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Sociedad Química y Minera de Chile presently has an average rating of Moderate Buy and an average target price of $98.60.

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM stock opened at $74.14 on Monday. Sociedad Química y Minera de Chile has a 12-month low of $69.75 and a 12-month high of $115.76. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.29 and a quick ratio of 1.71. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 5.42, a price-to-earnings-growth ratio of 0.34 and a beta of 0.95. The business has a 50 day simple moving average of $84.89 and a 200 day simple moving average of $88.76.

Sociedad Química y Minera de Chile (NYSE:SQM – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The basic materials company reported $4.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.23. The company had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.17 billion. Sociedad Química y Minera de Chile had a return on equity of 95.37% and a net margin of 36.47%. On average, equities research analysts anticipate that Sociedad Química y Minera de Chile will post 14.53 EPS for the current year.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several hedge funds have recently modified their holdings of SQM. Raymond James Financial Services Advisors Inc. purchased a new stake in Sociedad Química y Minera de Chile during the first quarter valued at about $346,000. American Century Companies Inc. grew its position in Sociedad Química y Minera de Chile by 48.9% during the 1st quarter. American Century Companies Inc. now owns 10,730 shares of the basic materials company’s stock worth $918,000 after purchasing an additional 3,526 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Sociedad Química y Minera de Chile by 17.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 11,471 shares of the basic materials company’s stock valued at $982,000 after purchasing an additional 1,694 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Sociedad Química y Minera de Chile by 44.8% in the first quarter. Cibc World Market Inc. now owns 5,814 shares of the basic materials company’s stock valued at $498,000 after purchasing an additional 1,799 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Sociedad Química y Minera de Chile by 8.0% in the first quarter. Vanguard Group Inc. now owns 938,593 shares of the basic materials company’s stock worth $80,344,000 after buying an additional 69,385 shares during the period. 18.42% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Company Profile

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Sociedad Quimica y Minera de Chile SA engages in the production and distribution of fertilizers, potassium nitrate, iodine, and lithium chemicals. It operates through the following segments: Specialty Plant Nutrients, Iodine and Derivatives, Lithium and Derivatives, Industrial Chemicals, Potassium, and Other Products and Services.

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

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