The Goldman Sachs Group Issues Positive Forecast for Sociedad Quimica y Minera (NYSE:SQM) Stock Price

Sociedad Quimica y Minera (NYSE:SQM) had its target price lifted by The Goldman Sachs Group from $64.00 to $82.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities analysts have also recently weighed in on SQM. Wall Street Zen raised Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a report on Sunday. Bank of America increased their price objective on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the company an “underperform” rating in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft cut their price target on Sociedad Quimica y Minera from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Tuesday. CLSA raised shares of Sociedad Quimica y Minera to an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Zacks Research downgraded shares of Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.58.

Sociedad Quimica y Minera Stock Performance

Shares of NYSE SQM opened at $71.60 on Wednesday. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58. Sociedad Quimica y Minera has a 12 month low of $35.67 and a 12 month high of $98.00. The stock has a 50 day moving average of $79.35 and a 200-day moving average of $78.85. The company has a market capitalization of $20.45 billion, a P/E ratio of 25.12, a P/E/G ratio of 0.20 and a beta of 0.97.

Sociedad Quimica y Minera (NYSE:SQM) last posted its earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The business had revenue of $1.76 billion for the quarter. As a group, equities research analysts predict that Sociedad Quimica y Minera will post 7.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SQM. Caitong International Asset Management Co. Ltd purchased a new position in Sociedad Quimica y Minera during the 4th quarter valued at about $29,000. GAMMA Investing LLC grew its stake in Sociedad Quimica y Minera by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 256 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in Sociedad Quimica y Minera during the 3rd quarter worth approximately $43,000. Signaturefd LLC lifted its stake in Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 177 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in Sociedad Quimica y Minera in the 3rd quarter worth approximately $49,000. Hedge funds and other 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.