Sociedad Química y Minera de Chile (NYSE:SQM) Sets New 12-Month Low at $37.17

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) reached a new 52-week low during trading on Thursday . The company traded as low as $37.17 and last traded at $37.28, with a volume of 437448 shares. The stock had previously closed at $38.06.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Berenberg Bank initiated coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday. They set a “hold” rating and a $35.00 target price on the stock. The Goldman Sachs Group cut their price objective on Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Bank of America dropped their price target on Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, June 4th. Jefferies Financial Group raised Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $52.00 to $62.80 in a research note on Monday, April 8th. Finally, BMO Capital Markets lowered their target price on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $57.33.

Sociedad Química y Minera de Chile Price Performance

The firm’s fifty day moving average is $42.04 and its 200 day moving average is $44.97. The company has a market capitalization of $10.06 billion, a P/E ratio of 25.32, a P/E/G ratio of 258.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.34.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Thursday, May 23rd. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.72) by $2.52. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. As a group, analysts predict that Sociedad Química y Minera de Chile S.A. will post 0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its stake in shares of Sociedad Química y Minera de Chile by 8.4% during the first quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company’s stock valued at $105,407,000 after acquiring an additional 165,370 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Sociedad Química y Minera de Chile by 9.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock worth $120,387,000 after acquiring an additional 172,908 shares in the last quarter. Robeco Schweiz AG increased its position in Sociedad Química y Minera de Chile by 23.4% during the 1st quarter. Robeco Schweiz AG now owns 1,407,650 shares of the basic materials company’s stock valued at $69,200,000 after purchasing an additional 267,005 shares during the period. Earnest Partners LLC raised its holdings in shares of Sociedad Química y Minera de Chile by 9.3% in the 1st quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock valued at $50,112,000 after purchasing an additional 86,811 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Sociedad Química y Minera de Chile by 688.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,006,607 shares of the basic materials company’s stock worth $60,618,000 after purchasing an additional 878,933 shares during the period. Institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.