Amundi Purchases 83,738 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• Amundi increased its SQM stake by 15% in the first quarter, purchasing 83,738 shares to hold 640,499 shares worth approximately $51.8 million. Institutional investors collectively own 12.41% of the company.
• SQM shares opened at $67.00, down 0.1%, with a market capitalization of $19.14 billion. The company reported quarterly revenue of $1.76 billion and earnings of $1.28 per share.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $73.58; targets recently ranged from $82 to $98 among major brokerages.

Amundi increased its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 15.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 640,499 shares of the basic materials company's stock after purchasing an additional 83,738 shares during the period. Amundi owned approximately 0.22% of Sociedad Quimica y Minera worth $51,842,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its holdings in shares of Sociedad Quimica y Minera by 7,083.3% in the fourth quarter. Legal & General Group Plc now owns 289,701 shares of the basic materials company's stock worth $19,931,000 after purchasing an additional 285,668 shares during the last quarter. Vanguard Group Inc. increased its stake in Sociedad Quimica y Minera by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 649,528 shares of the basic materials company's stock worth $44,688,000 after buying an additional 27,035 shares during the period. Premier Fund Managers Ltd bought a new stake in Sociedad Quimica y Minera during the 4th quarter valued at about $9,801,000. BW Gestao de Investimentos Ltda. bought a new stake in Sociedad Quimica y Minera during the 4th quarter valued at about $19,488,000. Finally, UBS Group AG boosted its position in Sociedad Quimica y Minera by 6.9% in the 4th quarter. UBS Group AG now owns 420,262 shares of the basic materials company's stock valued at $28,914,000 after buying an additional 27,230 shares during the period. 12.41% of the stock is currently owned by institutional investors.

Sociedad Quimica y Minera Trading Down 0.1%

Shares of NYSE SQM opened at $67.00 on Monday. Sociedad Quimica y Minera S.A. has a 1-year low of $35.67 and a 1-year high of $98.00. The business has a fifty day moving average price of $74.97 and a 200 day moving average price of $78.53. The stock has a market capitalization of $19.14 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 0.18 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.76 and a quick ratio of 2.01.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its earnings results on Saturday, May 16th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The company had revenue of $1.76 billion for the quarter. Equities research analysts expect that Sociedad Quimica y Minera S.A. will post 7.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on SQM. The Goldman Sachs Group increased their price objective on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Sociedad Quimica y Minera from $105.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, June 24th. CLSA upgraded Sociedad Quimica y Minera to an "outperform" rating in a research note on Tuesday, June 2nd. Finally, Scotiabank decreased their price objective on Sociedad Quimica y Minera from $105.00 to $93.00 and set a "sector outperform" rating for the company in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $73.58.

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.

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