Sociedad Quimica y Minera (NYSE:SQM) Upgraded to “Strong-Buy” at Wall Street Zen

Sociedad Quimica y Minera (NYSE:SQM) was upgraded by stock analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research report on Friday, March 27th. CLSA raised Sociedad Quimica y Minera to an “outperform” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group set a $100.00 price objective on Sociedad Quimica y Minera in a research report on Tuesday, June 2nd. Finally, Bank of America boosted their price objective on Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sociedad Quimica y Minera currently has an average rating of “Hold” and an average price target of $75.50.

Sociedad Quimica y Minera Stock Down 0.1%

SQM opened at $79.60 on Friday. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 0.22 and a beta of 0.95. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The firm’s 50-day simple moving average is $84.88 and its 200-day simple moving average is $77.76. Sociedad Quimica y Minera has a twelve month low of $31.90 and a twelve month high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. The firm had revenue of $1.76 billion for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. Equities research analysts anticipate that Sociedad Quimica y Minera will post 7.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of large investors have recently modified their holdings of SQM. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sociedad Quimica y Minera during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC raised its position 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 worth $30,000 after purchasing an additional 256 shares during the last quarter. Fulcrum Asset Management LLP acquired a new position in Sociedad Quimica y Minera during the 3rd quarter worth $43,000. Signaturefd LLC lifted its holdings in Sociedad Quimica y Minera by 37.0% during the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after buying an additional 177 shares in the last quarter. Finally, Triumph Capital Management acquired a new position in Sociedad Quimica y Minera during the 3rd quarter worth $49,000. 12.41% of the stock is currently owned by institutional investors and hedge funds.

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.