Sociedad Quimica y Minera (NYSE:SQM) Stock Rating Upgraded by Zacks Research

Sociedad Quimica y Minera (NYSE:SQM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

SQM has been the subject of several other reports. Hsbc Global Res raised Sociedad Quimica y Minera to a “strong-buy” rating in a report on Monday. Citigroup cut shares of Sociedad Quimica y Minera from a “buy” rating to a “neutral” rating and raised their price objective for the company from $51.00 to $74.00 in a research note on Friday, December 12th. JPMorgan Chase & Co. upped their target price on shares of Sociedad Quimica y Minera from $79.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday. Scotiabank lifted their price target on shares of Sociedad Quimica y Minera from $80.00 to $90.00 and gave the company a “sector outperform” rating in a research report on Monday, January 12th. Finally, UBS Group set a $79.00 price target on Sociedad Quimica y Minera in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.95.

Sociedad Quimica y Minera Stock Up 2.0%

Shares of Sociedad Quimica y Minera stock opened at $81.75 on Tuesday. The company has a market cap of $22.89 billion, a P/E ratio of 44.67 and a beta of 0.98. The firm has a fifty day moving average of $67.84 and a two-hundred day moving average of $51.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.88 and a current ratio of 2.82. Sociedad Quimica y Minera has a one year low of $29.36 and a one year high of $83.60.

Sociedad Quimica y Minera (NYSE:SQM) last posted its quarterly 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 return on equity of 9.79% and a net margin of 12.12%.The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts forecast that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Institutional Trading of Sociedad Quimica y Minera

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Comprehensive Money Management Services LLC purchased a new stake in shares of Sociedad Quimica y Minera in the fourth quarter valued at $319,000. Signaturefd LLC boosted its stake in Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after buying an additional 177 shares during the last quarter. Sovran Advisors LLC purchased a new stake in Sociedad Quimica y Minera in the 4th quarter valued at about $224,000. Perpetual Ltd increased its stake in shares of Sociedad Quimica y Minera by 29.9% during the 4th quarter. Perpetual Ltd now owns 103,127 shares of the basic materials company’s stock valued at $7,095,000 after acquiring an additional 23,740 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Sociedad Quimica y Minera by 23.5% in the fourth quarter. Blue Trust Inc. now owns 2,669 shares of the basic materials company’s stock worth $184,000 after acquiring an additional 507 shares during the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

About Sociedad Quimica y Minera

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.