Sociedad Quimica y Minera (NYSE:SQM) Price Target Raised to $90.00

Sociedad Quimica y Minera (NYSE:SQM) had its target price upped by Scotiabank from $80.00 to $90.00 in a research report report published on Monday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

Several other brokerages have also issued reports on SQM. Rothschild & Co Redburn initiated coverage on Sociedad Quimica y Minera in a report on Friday, October 24th. They set a “neutral” rating and a $54.00 price objective on the stock. Citigroup lowered Sociedad Quimica y Minera from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $74.00 in a research report on Friday, December 12th. Rothschild Redb upgraded Sociedad Quimica y Minera to a “hold” rating in a research note on Friday, October 24th. Jefferies Financial Group reissued a “hold” rating and issued a $50.00 price objective (down from $53.00) on shares of Sociedad Quimica y Minera in a report on Monday, October 6th. Finally, UBS Group set a $79.00 target price on shares of Sociedad Quimica y Minera in a report on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sociedad Quimica y Minera presently has an average rating of “Hold” and a consensus target price of $66.41.

Sociedad Quimica y Minera Stock Performance

Shares of Sociedad Quimica y Minera stock opened at $83.17 on Monday. The company has a quick ratio of 1.88, a current ratio of 2.82 and a debt-to-equity ratio of 0.68. Sociedad Quimica y Minera has a 52 week low of $29.36 and a 52 week high of $83.60. The firm’s 50 day moving average is $64.94 and its two-hundred day moving average is $50.31. The firm has a market capitalization of $23.13 billion, a P/E ratio of 45.45 and a beta of 0.98.

Sociedad Quimica y Minera (NYSE:SQM) last issued its earnings results on Tuesday, November 18th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.06). Sociedad Quimica y Minera had a net margin of 12.12% and a return on equity of 9.79%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Research analysts forecast that Sociedad Quimica y Minera will post -1.31 EPS for the current fiscal year.

Sociedad Quimica y Minera Announces Dividend

The business also recently declared a special dividend, which was paid on Monday, January 5th. Stockholders of record on Tuesday, December 30th were paid a dividend of $0.1236 per share. The ex-dividend date was Tuesday, December 30th. Sociedad Quimica y Minera’s dividend payout ratio is 6.56%.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of hedge funds and other institutional investors have recently bought and sold shares of SQM. Yeomans Consulting Group Inc. purchased a new position in Sociedad Quimica y Minera during the 4th quarter worth $370,000. GAMMA Investing LLC increased its stake in shares of Sociedad Quimica y Minera by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 256 shares during the period. JPMorgan Chase & Co. raised its holdings in Sociedad Quimica y Minera by 112.0% during the third quarter. JPMorgan Chase & Co. now owns 14,016 shares of the basic materials company’s stock worth $602,000 after purchasing an additional 7,404 shares in the last quarter. Triumph Capital Management purchased a new position in Sociedad Quimica y Minera during the third quarter worth about $49,000. Finally, AIA Group Ltd acquired a new stake in Sociedad Quimica y Minera in the third quarter valued at about $1,633,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Company Profile

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.