Short Interest in Sociedad Quimica y Minera S.A. (NYSE:SQM) Decreases By 15.0%

Sociedad Quimica y Minera S.A. (NYSE:SQM) was the recipient of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 1,604,369 shares, a decline of 15.0% from the December 31st total of 1,888,156 shares. Based on an average daily trading volume, of 1,654,566 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily trading volume, of 1,654,566 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SQM. Hsbc Global Res upgraded shares of Sociedad Quimica y Minera to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Sociedad Quimica y Minera from $88.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. UBS Group set a $79.00 price objective on Sociedad Quimica y Minera in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Sociedad Quimica y Minera from $79.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Sociedad Quimica y Minera presently has an average rating of “Moderate Buy” and a consensus target price of $69.79.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of hedge funds and other institutional investors have recently made changes to their positions in SQM. GAMMA Investing LLC grew its position in shares of Sociedad Quimica y Minera by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 256 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Sociedad Quimica y Minera by 153.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 586 shares during the period. Fulcrum Asset Management LLP purchased a new position in Sociedad Quimica y Minera during the 3rd quarter valued at about $43,000. Signaturefd LLC increased its position in shares of Sociedad Quimica y Minera by 37.0% during the fourth quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after buying an additional 177 shares during the period. Finally, Triumph Capital Management purchased a new stake in shares of Sociedad Quimica y Minera in the third quarter worth about $49,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Quimica y Minera Stock Down 6.9%

Sociedad Quimica y Minera stock traded down $5.46 during midday trading on Wednesday, hitting $73.84. 2,998,009 shares of the stock were exchanged, compared to its average volume of 1,702,256. Sociedad Quimica y Minera has a 52-week low of $29.36 and a 52-week high of $86.13. The company has a quick ratio of 1.88, a current ratio of 2.82 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $71.92 and its 200-day moving average price is $54.68.

Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Tuesday, November 18th. The basic materials company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.06). The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.14 billion. Sociedad Quimica y Minera had a return on equity of 9.79% and a net margin of 12.12%.Sociedad Quimica y Minera’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. Sell-side analysts predict that Sociedad Quimica y Minera will post -1.31 EPS for the current fiscal year.

Sociedad Quimica y Minera Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Monday, January 5th. Shareholders of record on Tuesday, December 30th were paid a $0.1236 dividend. The ex-dividend date was Tuesday, December 30th. Sociedad Quimica y Minera’s dividend payout ratio is 6.56%.

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.