Deutsche Bank Aktiengesellschaft Has Lowered Expectations for Sociedad Quimica y Minera (NYSE:SQM) Stock Price

Key Points

• Deutsche Bank Aktiengesellschaft cut its price target on Sociedad Quimica y Minera from $105 to $98, while keeping a buy rating. The new target still implies about 34% upside from the prior close.
• Analyst sentiment is mixed overall: recent moves include upgrades from Wall Street Zen and downgrades from Zacks Research and JPMorgan, while Scotiabank raised its target. MarketBeat says the stock currently has an average rating of Hold and an average target price of $76.08.
• Shares of SQM rose 1.4% to $72.93 on Tuesday. The company recently reported $1.28 EPS on $1.76 billion in revenue for the quarter, and analysts expect 7.25 EPS for the full fiscal year.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) had its price target dropped by equities researchers at Deutsche Bank Aktiengesellschaft from $105.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the basic materials company's stock. Deutsche Bank Aktiengesellschaft's target price indicates a potential upside of 34.38% from the company's previous close.

Several other equities research analysts also recently weighed in on the company. Wall Street Zen raised Sociedad Quimica y Minera from a "buy" rating to a "strong-buy" rating in a report on Sunday. Zacks Research lowered shares of Sociedad Quimica y Minera from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 23rd. Bank of America lifted their target price on shares of 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. JPMorgan Chase & Co. downgraded shares of Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and boosted their target price for the stock from $94.00 to $100.00 in a research report on Tuesday, June 2nd. Finally, Scotiabank upped their price target on shares of Sociedad Quimica y Minera from $100.00 to $105.00 and gave the company a "sector outperform" rating in a research note on Thursday, May 28th. One investment 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 given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $76.08.

Sociedad Quimica y Minera Stock Up 1.4%

Shares of NYSE:SQM traded up $0.99 during trading on Tuesday, reaching $72.93. The stock had a trading volume of 252,987 shares, compared to its average volume of 1,312,539. Sociedad Quimica y Minera has a one year low of $35.67 and a one year high of $98.00. The company has a market capitalization of $20.83 billion, a P/E ratio of 25.53, a PEG ratio of 0.20 and a beta of 0.97. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58. The firm's 50-day simple moving average is $80.18 and its 200 day simple moving average is $78.83.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings data on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. The firm had revenue of $1.76 billion during the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. As a group, research analysts expect that Sociedad Quimica y Minera will post 7.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Institutional investors and hedge funds have recently modified their holdings of the company. Castle Hook Partners LP purchased a new position in Sociedad Quimica y Minera during the 4th quarter worth approximately $69,257,000. Altshuler Shaham Ltd acquired a new stake in shares of Sociedad Quimica y Minera in the first quarter worth $50,183,000. Bank of America Corp DE raised its holdings in shares of Sociedad Quimica y Minera by 87.4% during the third quarter. Bank of America Corp DE now owns 1,239,588 shares of the basic materials company's stock worth $53,278,000 after purchasing an additional 578,175 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Sociedad Quimica y Minera by 602.0% during the first quarter. Renaissance Technologies LLC now owns 502,484 shares of the basic materials company's stock worth $40,671,000 after purchasing an additional 430,900 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Sociedad Quimica y Minera by 24.7% during the fourth quarter. Van ECK Associates Corp now owns 2,089,638 shares of the basic materials company's stock valued at $143,767,000 after purchasing an additional 413,246 shares during the period. Institutional investors and hedge funds own 12.41% of the company's stock.

About Sociedad Quimica y Minera

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.