Sociedad Quimica y Minera de Chile (SQM) Downgraded to Market Perform at BMO Capital Markets

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BMO Capital Markets cut shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) from an outperform rating to a market perform rating in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has $31.00 target price on the basic materials company’s stock, down from their prior target price of $47.00.

A number of other research analysts have also recently commented on the company. Vertical Group started coverage on Sociedad Quimica y Minera de Chile in a report on Monday, April 22nd. They issued a sell rating and a $23.00 price objective on the stock. JPMorgan Chase & Co. cut Sociedad Quimica y Minera de Chile from an overweight rating to a neutral rating and decreased their price objective for the company from $51.00 to $43.00 in a report on Friday, March 1st. Santander cut Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Wednesday, April 3rd. Bank of America cut Sociedad Quimica y Minera de Chile from a buy rating to a neutral rating in a report on Thursday, March 7th. Finally, Deutsche Bank cut Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Monday, February 25th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $40.25.

SQM opened at $30.80 on Thursday. Sociedad Quimica y Minera de Chile has a one year low of $30.12 and a one year high of $53.68. The company has a market capitalization of $8.10 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.67 and a current ratio of 4.32.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Thursday, February 28th. The basic materials company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). Sociedad Quimica y Minera de Chile had a net margin of 19.41% and a return on equity of 20.29%. The business had revenue of $565.20 million during the quarter, compared to analyst estimates of $560.66 million. As a group, analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.54 EPS for the current year.

The company also recently declared a dividend, which was paid on Friday, May 3rd. Shareholders of record on Friday, May 3rd were paid a dividend of $0.268 per share. The ex-dividend date of this dividend was Thursday, May 2nd. Sociedad Quimica y Minera de Chile’s dividend payout ratio (DPR) is 64.07%.

A number of large investors have recently added to or reduced their stakes in SQM. Daiwa Securities Group Inc. acquired a new position in Sociedad Quimica y Minera de Chile during the fourth quarter worth $38,000. Osborn Williams & Donohoe LLC acquired a new position in Sociedad Quimica y Minera de Chile during the first quarter worth $45,000. Virtus ETF Advisers LLC lifted its stake in Sociedad Quimica y Minera de Chile by 145.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 1,736 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 1,028 shares in the last quarter. Capital Investment Advisory Services LLC lifted its stake in Sociedad Quimica y Minera de Chile by 413.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,055 shares of the basic materials company’s stock worth $79,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Sociedad Quimica y Minera de Chile during the fourth quarter worth $112,000. Institutional investors own 10.03% 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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Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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