Deutsche Bank Aktiengesellschaft Issues Pessimistic Forecast for Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price lowered by Deutsche Bank Aktiengesellschaft from $35.00 to $31.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a hold rating on the basic materials company’s stock.

A number of other research analysts have also recently issued reports on the company. Jefferies Financial Group reduced their price objective on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $44.00 in a research report on Friday, October 11th. The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Bank of America decreased their target price on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 21st. Finally, Berenberg Bank started coverage on shares of Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned 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 a consensus target price of $48.06.

Sociedad Química y Minera de Chile Price Performance

SQM traded down $1.17 during midday trading on Thursday, hitting $38.46. The stock had a trading volume of 137,068 shares, compared to its average volume of 1,170,191. Sociedad Química y Minera de Chile has a 1 year low of $32.24 and a 1 year high of $64.62. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.47 and a current ratio of 2.19. The business has a fifty day moving average of $39.61 and a 200 day moving average of $40.76. The company has a market cap of $10.99 billion, a P/E ratio of 359.45 and a beta of 1.03.

Sociedad Química y Minera de Chile (NYSE:SQM) last announced its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 0.48% and a return on equity of 23.15%. During the same period last year, the company posted $2.03 EPS. As a group, equities analysts forecast that Sociedad Química y Minera de Chile will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings 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 purchasing an additional 165,370 shares during the last quarter. abrdn plc boosted its holdings in Sociedad Química y Minera de Chile by 2.7% in the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock worth $49,668,000 after acquiring an additional 31,955 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Sociedad Química y Minera de Chile by 9.3% in the first quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock worth $50,112,000 after acquiring an additional 86,811 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Sociedad Química y Minera de Chile by 41.6% during the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock valued at $36,661,000 after acquiring an additional 264,324 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Sociedad Química y Minera de Chile by 2.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock worth $36,984,000 after purchasing an additional 24,999 shares during the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.