Sociedad Quimica y Minera de Chile (NYSE:SQM) Downgraded to Underweight at JPMorgan Chase & Co.

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JPMorgan Chase & Co. downgraded shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) from a neutral rating to an underweight rating in a research note issued to investors on Thursday morning, AnalystRatings.com reports. JPMorgan Chase & Co. currently has $23.00 target price on the basic materials company’s stock, down from their previous target price of $29.00.

Several other research firms have also issued reports on SQM. Deutsche Bank set a $32.00 target price on shares of Sociedad Quimica y Minera de Chile and gave the stock a hold rating in a report on Tuesday, May 28th. ValuEngine lowered shares of Sociedad Quimica y Minera de Chile from a hold rating to a sell rating in a report on Tuesday, July 2nd. BMO Capital Markets lowered shares of Sociedad Quimica y Minera de Chile from an outperform rating to a market perform rating and lowered their target price for the stock from $47.00 to $31.00 in a report on Thursday, May 23rd. Finally, Morgan Stanley upgraded shares of Sociedad Quimica y Minera de Chile from an underweight rating to an equal weight rating in a report on Friday, July 12th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $35.50.

Sociedad Quimica y Minera de Chile stock opened at $23.45 on Thursday. The firm has a 50-day moving average price of $28.71 and a 200-day moving average price of $34.49. The firm has a market capitalization of $6.91 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. The company has a current ratio of 3.92, a quick ratio of 2.42 and a debt-to-equity ratio of 0.63. Sociedad Quimica y Minera de Chile has a 12-month low of $23.32 and a 12-month high of $48.80.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its earnings results on Wednesday, August 21st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.09). The firm had revenue of $494.10 million during the quarter, compared to the consensus estimate of $525.73 million. Sociedad Quimica y Minera de Chile had a return on equity of 19.01% and a net margin of 18.06%. Sociedad Quimica y Minera de Chile’s revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. As a group, sell-side analysts predict that Sociedad Quimica y Minera de Chile will post 1.33 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Clearbridge Investments LLC lifted its holdings in Sociedad Quimica y Minera de Chile by 33.4% during the 1st quarter. Clearbridge Investments LLC now owns 994,919 shares of the basic materials company’s stock valued at $38,245,000 after buying an additional 249,333 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Sociedad Quimica y Minera de Chile by 23.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 933,512 shares of the basic materials company’s stock valued at $29,042,000 after buying an additional 178,200 shares in the last quarter. Morgan Stanley lifted its holdings in Sociedad Quimica y Minera de Chile by 19.6% during the 2nd quarter. Morgan Stanley now owns 762,064 shares of the basic materials company’s stock valued at $23,707,000 after buying an additional 124,876 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Sociedad Quimica y Minera de Chile by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 664,562 shares of the basic materials company’s stock valued at $20,674,000 after buying an additional 61,276 shares in the last quarter. Finally, Boston Common Asset Management LLC lifted its holdings in Sociedad Quimica y Minera de Chile by 31.7% during the 2nd quarter. Boston Common Asset Management LLC now owns 638,382 shares of the basic materials company’s stock valued at $19,860,000 after buying an additional 153,585 shares in the last quarter. Institutional investors own 9.89% of the company’s stock.

Sociedad Quimica y Minera de Chile Company Profile

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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