Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Cut to $46.50

Sociedad Química y Minera de Chile (NYSE:SQM) had its price target lowered by equities researchers at The Goldman Sachs Group from $54.50 to $46.50 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 3.91% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday. Scotiabank cut their target price on Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 4th. JPMorgan Chase & Co. cut their target price on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 6th. BMO Capital Markets lowered their price target on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, Jefferies Financial Group raised Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and boosted their price target for the stock from $52.00 to $62.80 in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Sociedad Química y Minera de Chile presently has an average rating of “Hold” and a consensus price target of $65.18.

Sociedad Química y Minera de Chile Stock Up 1.7 %

Shares of NYSE:SQM traded up $0.76 during trading on Tuesday, hitting $44.75. 382,181 shares of the company’s stock traded hands, compared to its average volume of 1,419,193. Sociedad Química y Minera de Chile has a 52 week low of $38.50 and a 52 week high of $81.50. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. The company has a market cap of $12.78 billion, a price-to-earnings ratio of 6.36 and a beta of 1.07. The company has a 50-day moving average price of $47.01 and a 200-day moving average price of $49.71.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.51). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.36 billion. Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. During the same quarter last year, the firm earned $4.03 EPS. As a group, research analysts forecast that Sociedad Química y Minera de Chile will post 4.18 EPS for the current fiscal year.

Institutional Trading of Sociedad Química y Minera de Chile

Institutional investors have recently added to or reduced their stakes in the company. Accent Capital Management LLC bought a new stake in Sociedad Química y Minera de Chile in the 4th quarter valued at $47,000. CWM LLC lifted its position in shares of Sociedad Química y Minera de Chile by 40.1% during the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 226 shares during the period. National Bank of Canada FI lifted its position in shares of Sociedad Química y Minera de Chile by 153.8% during the 3rd quarter. National Bank of Canada FI now owns 825 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Sociedad Química y Minera de Chile by 133.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 475 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Sociedad Química y Minera de Chile during the 3rd quarter valued at $63,000. 12.41% of the stock is currently owned by institutional investors.

About Sociedad Química y Minera de Chile

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.