JPMorgan Chase & Co. Cuts Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $39.00

Sociedad Química y Minera de Chile (NYSE:SQM) had its price target dropped by analysts at JPMorgan Chase & Co. from $44.00 to $39.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.12% from the stock’s previous close.

A number of other research firms have also weighed in on SQM. BMO Capital Markets reduced their target price on Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. Scotiabank reduced their price target on shares of Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $41.14.

Sociedad Química y Minera de Chile Stock Performance

Sociedad Química y Minera de Chile stock opened at $32.74 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. The firm has a market capitalization of $9.35 billion, a P/E ratio of -29.50, a price-to-earnings-growth ratio of 5.00 and a beta of 1.04. Sociedad Química y Minera de Chile has a 1-year low of $29.36 and a 1-year high of $45.89. The company’s 50-day moving average is $33.91 and its 200 day moving average is $37.47.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a positive return on equity of 16.12% and a negative net margin of 6.74%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company posted ($3.04) earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Research analysts forecast that Sociedad Química y Minera de Chile will post -1.31 EPS for the current year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Institutional investors have recently made changes to their positions in the company. Soros Fund Management LLC bought a new position in Sociedad Química y Minera de Chile during the 4th quarter worth about $5,619,000. Earnest Partners LLC boosted its stake in shares of Sociedad Química y Minera de Chile by 1.8% during the fourth quarter. Earnest Partners LLC now owns 1,071,339 shares of the basic materials company’s stock valued at $38,954,000 after purchasing an additional 18,748 shares in the last quarter. MGO One Seven LLC purchased a new position in Sociedad Química y Minera de Chile during the fourth quarter valued at approximately $642,000. CANADA LIFE ASSURANCE Co increased its holdings in Sociedad Química y Minera de Chile by 121.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 61,519 shares of the basic materials company’s stock valued at $2,236,000 after buying an additional 33,797 shares during the period. Finally, White Knight Strategic Wealth Advisors LLC raised its stake in Sociedad Química y Minera de Chile by 86.5% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 34,244 shares of the basic materials company’s stock worth $1,245,000 after buying an additional 15,879 shares in 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.