Sociedad Química y Minera de Chile (NYSE:SQM) PT Lowered to $75.00

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price cut by BMO Capital Markets from $80.00 to $75.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

Several other research analysts have also recently weighed in on SQM. Loop Capital reduced their price target on Sociedad Química y Minera de Chile from $83.00 to $71.00 and set a hold rating for the company in a research report on Monday, August 28th. Scotiabank upgraded Sociedad Química y Minera de Chile from a sector perform rating to a sector outperform rating and set a $84.00 price objective for the company in a research report on Thursday, October 26th. Citigroup began coverage on Sociedad Química y Minera de Chile in a research report on Tuesday, September 12th. They issued a buy rating and a $85.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on Sociedad Química y Minera de Chile from $93.00 to $75.00 and set an overweight rating on the stock in a research note on Thursday, October 5th. Finally, Bank of America reissued an underperform rating and set a $59.00 price objective (down previously from $69.00) on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sociedad Química y Minera de Chile presently has a consensus rating of Hold and an average price target of $76.61.

Sociedad Química y Minera de Chile Stock Performance

Shares of Sociedad Química y Minera de Chile stock opened at $52.54 on Friday. Sociedad Química y Minera de Chile has a 12 month low of $44.86 and a 12 month high of $101.73. The company has a current ratio of 2.39, a quick ratio of 1.67 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $53.79 and a two-hundred day simple moving average of $64.40. The firm has a market capitalization of $15.01 billion, a P/E ratio of 5.07, a P/E/G ratio of 0.38 and a beta of 1.06.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Wednesday, November 15th. The basic materials company reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $2.52 by ($0.84). Sociedad Química y Minera de Chile had a net margin of 31.87% and a return on equity of 57.87%. The company had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the firm earned $3.85 earnings per share. On average, equities analysts forecast that Sociedad Química y Minera de Chile will post 8.41 earnings per share for the current fiscal year.

Sociedad Química y Minera de Chile Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 2nd. Shareholders of record on Friday, January 1st were given a $0.6094 dividend. The ex-dividend date of this dividend was Thursday, November 2nd. This is a positive change from Sociedad Química y Minera de Chile’s previous quarterly dividend of $0.51. This represents a $2.44 annualized dividend and a yield of 4.64%. Sociedad Química y Minera de Chile’s dividend payout ratio (DPR) is 15.24%.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds and other institutional investors have recently modified their holdings of SQM. Creative Planning increased its holdings in Sociedad Química y Minera de Chile by 16.2% in the third quarter. Creative Planning now owns 44,316 shares of the basic materials company’s stock valued at $2,644,000 after buying an additional 6,185 shares during the last quarter. Tejara Capital Ltd bought a new stake in Sociedad Química y Minera de Chile in the third quarter valued at about $895,000. Mercer Global Advisors Inc. ADV bought a new stake in Sociedad Química y Minera de Chile in the third quarter valued at about $218,000. Toroso Investments LLC increased its holdings in Sociedad Química y Minera de Chile by 0.5% in the third quarter. Toroso Investments LLC now owns 64,071 shares of the basic materials company’s stock valued at $3,823,000 after buying an additional 338 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new stake in Sociedad Química y Minera de Chile in the third quarter valued at about $236,000. 14.94% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Company Profile

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.