Sociedad Quimica y Minera (NYSE:SQM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Sociedad Quimica y Minera (NYSE:SQM) had its price objective increased by research analysts at JPMorgan Chase & Co. from $79.00 to $93.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.77% from the company’s previous close.

Several other research firms also recently commented on SQM. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $63.00 price objective (up from $45.00) on shares of Sociedad Quimica y Minera in a report on Thursday, December 4th. Rothschild Redb raised shares of Sociedad Quimica y Minera to a “hold” rating in a report on Friday, October 24th. Citigroup downgraded Sociedad Quimica y Minera from a “buy” rating to a “neutral” rating and increased their price target for the stock from $51.00 to $74.00 in a research report on Friday, December 12th. Scotiabank boosted their price objective on Sociedad Quimica y Minera from $80.00 to $90.00 and gave the company a “sector outperform” rating in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and upped their target price for the stock from $55.00 to $88.00 in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.95.

Sociedad Quimica y Minera Stock Up 2.0%

Sociedad Quimica y Minera stock opened at $81.75 on Tuesday. The business’s 50-day simple moving average is $67.84 and its two-hundred day simple moving average is $51.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.88 and a current ratio of 2.82. The company has a market cap of $22.89 billion, a PE ratio of 44.67 and a beta of 0.98. Sociedad Quimica y Minera has a fifty-two week low of $29.36 and a fifty-two week high of $83.60.

Sociedad Quimica y Minera (NYSE:SQM) last released its earnings results on Tuesday, November 18th. The basic materials company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.06). Sociedad Quimica y Minera had a return on equity of 9.79% and a net margin of 12.12%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.46 EPS. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts anticipate that Sociedad Quimica y Minera will post -1.31 EPS for the current year.

Institutional Trading of Sociedad Quimica y Minera

Several institutional investors have recently modified their holdings of SQM. GAMMA Investing LLC lifted its stake in Sociedad Quimica y Minera by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock valued at $30,000 after buying an additional 256 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Sociedad Quimica y Minera by 153.0% during the second quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 586 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in shares of Sociedad Quimica y Minera during the third quarter valued at approximately $43,000. Signaturefd LLC lifted its position in shares of Sociedad Quimica y Minera by 37.0% in the fourth quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 177 shares in the last quarter. Finally, Triumph Capital Management acquired a new stake in shares of Sociedad Quimica y Minera in the third quarter worth approximately $49,000. Institutional investors and hedge funds 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.