Sociedad Quimica y Minera (NYSE:SQM) Hits New 12-Month High – Should You Buy?

Sociedad Quimica y Minera S.A. (NYSE:SQM) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $55.66 and last traded at $57.3580, with a volume of 2105099 shares trading hands. The stock had previously closed at $53.20.

Wall Street Analysts Forecast Growth

SQM has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Jefferies Financial Group reiterated a “hold” rating and set a $50.00 price target (down from $53.00) on shares of Sociedad Quimica y Minera in a research note on Monday, October 6th. Weiss Ratings upgraded shares of Sociedad Quimica y Minera from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, November 13th. Rothschild Redb raised Sociedad Quimica y Minera to a “hold” rating in a report on Friday, October 24th. Finally, Itau BBA Securities assumed coverage on Sociedad Quimica y Minera in a report on Thursday, September 4th. They issued an “outperform” rating and a $55.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $46.81.

Sociedad Quimica y Minera Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.93 and a current ratio of 2.92. The company has a market capitalization of $16.96 billion, a PE ratio of 35.55 and a beta of 1.14. The company’s 50-day simple moving average is $45.79 and its 200-day simple moving average is $40.57.

Sociedad Quimica y Minera (NYSE:SQM) last announced its earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company posted $0.75 EPS. Sociedad Quimica y Minera’s quarterly revenue was down 19.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SQM. Brooklyn Investment Group lifted its holdings in shares of Sociedad Quimica y Minera by 61,700.0% during the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 617 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter worth $34,000. Farther Finance Advisors LLC lifted its stake in shares of Sociedad Quimica y Minera by 153.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 586 shares during the period. Fulcrum Asset Management LLP purchased a new stake in shares of Sociedad Quimica y Minera in the third quarter valued at about $43,000. Finally, IFP Advisors Inc increased its stake in shares of Sociedad Quimica y Minera by 728.0% during the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 1,092 shares during the period. 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 operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.