Sociedad Quimica y Minera de Chile (SQM) Short Interest Up 101.6% in January

Sociedad Quimica y Minera de Chile (NYSE:SQM) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 4,650,181 shares, a growth of 101.6% from the January 12th total of 2,306,721 shares. Based on an average trading volume of 2,106,012 shares, the days-to-cover ratio is currently 2.2 days.

Shares of Sociedad Quimica y Minera de Chile (NYSE SQM) opened at $54.30 on Wednesday. The company has a current ratio of 3.79, a quick ratio of 2.31 and a debt-to-equity ratio of 0.45. Sociedad Quimica y Minera de Chile has a 52-week low of $30.82 and a 52-week high of $64.20. The company has a market capitalization of $14,360.00, a P/E ratio of 35.96, a P/E/G ratio of 1.13 and a beta of 0.95.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its earnings results on Wednesday, November 22nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. Sociedad Quimica y Minera de Chile had a return on equity of 17.58% and a net margin of 18.52%. The business had revenue of $558.70 million during the quarter, compared to the consensus estimate of $515.15 million. research analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.65 EPS for the current fiscal year.

A number of brokerages recently commented on SQM. JPMorgan Chase & Co. raised Sociedad Quimica y Minera de Chile from a “neutral” rating to an “overweight” rating and set a $65.00 price target for the company in a research report on Wednesday, February 7th. Scotiabank set a $50.00 price target on Sociedad Quimica y Minera de Chile and gave the company a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets increased their price target on Sociedad Quimica y Minera de Chile to $60.00 and gave the company an “average” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Citigroup raised Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Sociedad Quimica y Minera de Chile has an average rating of “Buy” and an average target price of $59.65.

A number of large investors have recently added to or reduced their stakes in the business. Global X MANAGEMENT CO LLC increased its position in Sociedad Quimica y Minera de Chile by 135.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,279,880 shares of the basic materials company’s stock worth $126,898,000 after buying an additional 1,311,641 shares during the last quarter. Iridian Asset Management LLC CT purchased a new stake in Sociedad Quimica y Minera de Chile in the fourth quarter worth $135,108,000. Standard Life Aberdeen plc purchased a new stake in Sociedad Quimica y Minera de Chile in the fourth quarter worth $120,534,000. Axiom International Investors LLC DE increased its position in Sociedad Quimica y Minera de Chile by 0.5% in the third quarter. Axiom International Investors LLC DE now owns 1,636,150 shares of the basic materials company’s stock worth $91,068,000 after buying an additional 8,590 shares during the last quarter. Finally, BlackRock Inc. increased its position in Sociedad Quimica y Minera de Chile by 44.3% in the fourth quarter. BlackRock Inc. now owns 1,518,151 shares of the basic materials company’s stock worth $90,132,000 after buying an additional 466,339 shares during the last quarter. 12.63% of the stock is owned by institutional investors and hedge funds.

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Sociedad Quimica y Minera de Chile Company Profile

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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