BMO Capital Markets Cuts Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $45.00

Sociedad Química y Minera de Chile (NYSE:SQM - Free Report) had its price objective trimmed by BMO Capital Markets from $55.00 to $45.00 in a report released on Thursday,Benzinga reports. The firm currently has an outperform rating on the basic materials company's stock.

Sociedad Química y Minera de Chile Stock Performance

SQM stock traded down $1.03 during midday trading on Thursday, reaching $30.43. 1,405,118 shares of the company's stock traded hands, compared to its average volume of 1,070,289. The firm has a market capitalization of $8.69 billion, a PE ratio of -27.41, a price-to-earnings-growth ratio of 5.00 and a beta of 1.11. Sociedad Química y Minera de Chile has a 52 week low of $30.18 and a 52 week high of $48.21. The company has a 50-day moving average price of $35.08 and a two-hundred day moving average price of $37.88. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooklyn Investment Group increased its position in Sociedad Química y Minera de Chile by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock valued at $25,000 after buying an additional 617 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Sociedad Química y Minera de Chile during the 1st quarter valued at approximately $34,000. Kestra Investment Management LLC bought a new position in Sociedad Química y Minera de Chile during the 4th quarter valued at approximately $39,000. Jones Financial Companies Lllp boosted its stake in Sociedad Química y Minera de Chile by 803.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 956 shares during the last quarter. Finally, Grove Bank & Trust purchased a new stake in Sociedad Química y Minera de Chile during the 1st quarter valued at $46,000. 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.