Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Lowered to $46.50 at The Goldman Sachs Group

Sociedad Química y Minera de Chile (NYSE:SQM) had its price target decreased by The Goldman Sachs Group from $54.50 to $46.50 in a report issued on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets dropped their price objective on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an outperform rating on the stock in a research note on Friday, March 1st. JPMorgan Chase & Co. dropped their price objective on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating on the stock in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a hold rating on the stock in a research note on Friday, April 19th. StockNews.com cut shares of Sociedad Química y Minera de Chile from a hold rating to a sell rating in a research note on Monday, March 4th. Finally, Scotiabank dropped their price objective on shares of Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a sector outperform rating on the stock in a research note on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Sociedad Química y Minera de Chile has an average rating of Hold and an average target price of $65.18.

Sociedad Química y Minera de Chile Stock Performance

SQM opened at $44.79 on Tuesday. Sociedad Química y Minera de Chile has a 12-month low of $38.50 and a 12-month high of $81.50. The company has a current ratio of 2.49, a quick ratio of 1.74 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $12.79 billion, a PE ratio of 6.35 and a beta of 1.07. The firm has a 50 day moving average of $47.11 and a two-hundred day moving average of $49.64.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a return on equity of 37.86% and a net margin of 26.95%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the business posted $4.03 earnings per share. On average, analysts anticipate that Sociedad Química y Minera de Chile will post 4.18 EPS for the current year.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQM. CWM LLC boosted its stake in Sociedad Química y Minera de Chile by 40.1% during the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 226 shares during the last quarter. National Bank of Canada FI boosted its stake in Sociedad Química y Minera de Chile by 153.8% during the 3rd quarter. National Bank of Canada FI now owns 825 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 500 shares during the last quarter. Accent Capital Management LLC acquired a new stake in Sociedad Química y Minera de Chile during the 4th quarter worth $47,000. EverSource Wealth Advisors LLC boosted its stake in Sociedad Química y Minera de Chile by 133.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 830 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 475 shares during the last quarter. Finally, Venturi Wealth Management LLC acquired a new stake in Sociedad Química y Minera de Chile during the 3rd quarter worth $63,000. Institutional investors and hedge funds 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.