Sociedad Quimica y Minera de Chile (SQM) Rating Lowered to Hold at Zacks Investment Research

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Sociedad Quimica y Minera de Chile (NYSE:SQM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “

A number of other brokerages have also commented on SQM. HSBC upgraded Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating in a research report on Monday, December 3rd. Santander upgraded Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating in a research report on Wednesday, December 12th. Deutsche Bank set a $50.00 price objective on Sociedad Quimica y Minera de Chile and gave the stock a “buy” rating in a research report on Wednesday, November 28th. JPMorgan Chase & Co. set a $52.00 target price on Sociedad Quimica y Minera de Chile and gave the stock a “buy” rating in a report on Friday, November 16th. Finally, BMO Capital Markets assumed coverage on Sociedad Quimica y Minera de Chile in a report on Monday, October 29th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. Sociedad Quimica y Minera de Chile presently has an average rating of “Hold” and an average price target of $51.00.

Shares of SQM stock opened at $41.24 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.34 and a quick ratio of 2.64. The stock has a market capitalization of $10.64 billion, a P/E ratio of 25.30, a PEG ratio of 0.87 and a beta of 1.23. Sociedad Quimica y Minera de Chile has a 12 month low of $36.70 and a 12 month high of $58.69.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its quarterly earnings data on Wednesday, November 21st. The basic materials company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.07). The firm had revenue of $543.20 million during the quarter, compared to analyst estimates of $596.76 million. Sociedad Quimica y Minera de Chile had a return on equity of 20.13% and a net margin of 19.41%. Equities analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.74 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Schroder Investment Management Group boosted its holdings in Sociedad Quimica y Minera de Chile by 166.6% during the third quarter. Schroder Investment Management Group now owns 1,218,808 shares of the basic materials company’s stock worth $55,724,000 after buying an additional 761,708 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Sociedad Quimica y Minera de Chile by 30.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 58,493 shares of the basic materials company’s stock valued at $2,811,000 after purchasing an additional 13,559 shares in the last quarter. Krane Funds Advisors LLC lifted its holdings in shares of Sociedad Quimica y Minera de Chile by 7.9% during the 3rd quarter. Krane Funds Advisors LLC now owns 10,858 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 795 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Sociedad Quimica y Minera de Chile by 80.3% during the 3rd quarter. Deutsche Bank AG now owns 360,024 shares of the basic materials company’s stock valued at $16,457,000 after purchasing an additional 160,381 shares in the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in shares of Sociedad Quimica y Minera de Chile during the 3rd quarter valued at about $162,000. Hedge funds and other institutional investors own 10.66% of the company’s stock.

About Sociedad Quimica y Minera de Chile

Sociedad QuĂ­mica y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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