Sociedad Quimica y Minera S.A. (SQM) Trading Down 8.8%

Sociedad Quimica y Minera S.A. (NYSE:SQM)’s share price fell 8.8% during trading on Monday . The company traded as low as $54.11 and last traded at $54.54. 2,785,157 shares were traded during trading, an increase of 188% from the average session volume of 966,517 shares. The stock had previously closed at $59.80.

A number of brokerages recently commented on SQM. Santander upgraded shares of Sociedad Quimica y Minera from an “underperform” rating to a “hold” rating in a research note on Wednesday, September 13th. BidaskClub upgraded shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 2nd. BMO Capital Markets restated a “market perform” rating and issued a $45.00 price objective (up previously from $35.00) on shares of Sociedad Quimica y Minera in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, Bank of America Corporation upgraded shares of Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Sociedad Quimica y Minera presently has a consensus rating of “Buy” and a consensus target price of $50.22.

The company has a current ratio of 4.19, a quick ratio of 2.47 and a debt-to-equity ratio of 0.47. The firm has a market cap of $13,730.00, a P/E ratio of 46.36, a PEG ratio of 1.11 and a beta of 1.06.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Sociedad Quimica y Minera had a net margin of 16.28% and a return on equity of 14.90%. The company had revenue of $505.70 million during the quarter, compared to analyst estimates of $500.49 million. research analysts anticipate that Sociedad Quimica y Minera S.A. will post 1.66 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Pacad Investment Ltd. acquired a new stake in shares of Sociedad Quimica y Minera during the second quarter worth about $116,000. Raymond James Trust N.A. acquired a new stake in shares of Sociedad Quimica y Minera during the third quarter worth about $220,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Sociedad Quimica y Minera during the third quarter worth about $245,000. Garner Asset Management Corp acquired a new stake in shares of Sociedad Quimica y Minera during the third quarter worth about $253,000. Finally, Gerber Kawasaki Wealth & Investment Management acquired a new stake in shares of Sociedad Quimica y Minera during the third quarter worth about $279,000. Institutional investors and hedge funds own 13.50% of the company’s stock.

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About Sociedad Quimica y Minera

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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