Sociedad Quimica y Minera (NYSE:SQM) Price Target Lowered to $94.00 at JPMorgan Chase & Co.

Sociedad Quimica y Minera (NYSE:SQM) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $100.00 to $94.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 17.68% from the company’s current price.

Several other analysts also recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Weiss Ratings raised shares of Sociedad Quimica y Minera from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. The Goldman Sachs Group upped their price objective on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, July 15th. Wall Street Zen raised shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Finally, Citigroup upgraded Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating and cut their target price for the company from $97.00 to $95.00 in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $77.64.

Sociedad Quimica y Minera Stock Down 0.7%

Shares of NYSE SQM traded down $0.55 during trading hours on Friday, hitting $79.88. The stock had a trading volume of 282,200 shares, compared to its average volume of 1,247,959. The company has a market capitalization of $22.82 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.27 and a beta of 0.98. The firm’s 50-day moving average price is $72.81 and its two-hundred day moving average price is $77.88. Sociedad Quimica y Minera has a 52 week low of $40.58 and a 52 week high of $98.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Friday, August 14th. The basic materials company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.28. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.24 billion. Sociedad Quimica y Minera had a return on equity of 19.08% and a net margin of 20.62%.The firm’s revenue was up 136.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. Analysts anticipate that Sociedad Quimica y Minera will post 7.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth $29,000. Fulcrum Asset Management LLP acquired a new position in Sociedad Quimica y Minera in the 3rd quarter valued at $43,000. Triumph Capital Management bought a new position in Sociedad Quimica y Minera in the 3rd quarter worth $49,000. Leonteq Securities AG bought a new position in Sociedad Quimica y Minera in the 4th quarter worth $58,000. Finally, Ameriflex Group Inc. acquired a new position in Sociedad Quimica y Minera during the 4th quarter worth $60,000. Institutional investors own 12.41% of the company’s stock.

Sociedad Quimica y Minera Company Profile

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.