ARGA Investment Management LP Invests $21.30 Million in Sociedad Quimica y Minera S.A. $SQM

Key Points

• ARGA Investment Management LP opened a new position in Sociedad Quimica y Minera during the first quarter, buying 263,115 shares valued at about $21.3 million. The stake represented roughly 0.7% of ARGA’s portfolio and made SQM its 28th largest holding.
• Institutional interest in SQM remains active, with several other firms adding positions, while institutional investors own 12.41% of the company. Despite mixed analyst moves, the stock’s consensus rating is still “Hold” with a consensus target price of $75.50.
• SQM recently reported quarterly earnings of $1.28 per share on $1.76 billion in revenue, and analysts expect 7.25 EPS for the current fiscal year. The stock opened at $73.15, below its 52-week high of $98.00 but above its 52-week low of $35.67.

ARGA Investment Management LP bought a new position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 263,115 shares of the basic materials company's stock, valued at approximately $21,297,000. Sociedad Quimica y Minera comprises about 0.7% of ARGA Investment Management LP's holdings, making the stock its 28th largest position. ARGA Investment Management LP owned 0.09% of Sociedad Quimica y Minera at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of SQM. Hsbc Holdings PLC bought a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth about $369,000. Summit Securities Group LLC acquired a new stake in Sociedad Quimica y Minera during the first quarter worth approximately $629,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Sociedad Quimica y Minera during the first quarter worth approximately $2,854,000. Banque Cantonale Vaudoise increased its holdings in Sociedad Quimica y Minera by 292.0% in the first quarter. Banque Cantonale Vaudoise now owns 33,936 shares of the basic materials company's stock worth $2,747,000 after purchasing an additional 25,279 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in Sociedad Quimica y Minera by 14.7% in the first quarter. SG Americas Securities LLC now owns 4,600 shares of the basic materials company's stock worth $372,000 after purchasing an additional 589 shares in the last quarter. Institutional investors own 12.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $94.00 to $100.00 in a report on Tuesday, June 2nd. Zacks Research downgraded shares of Sociedad Quimica y Minera from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 23rd. Wall Street Zen lowered shares of Sociedad Quimica y Minera from a "strong-buy" rating to a "buy" rating in a research note on Sunday, June 28th. Bank of America raised their price target on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an "underperform" rating in a report on Wednesday, March 25th. Finally, Scotiabank lifted 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 given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Sociedad Quimica y Minera currently has a consensus rating of "Hold" and a consensus target price of $75.50.

Sociedad Quimica y Minera Stock Performance

SQM opened at $73.15 on Friday. Sociedad Quimica y Minera S.A. has a 1-year low of $35.67 and a 1-year high of $98.00. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 0.21 and a beta of 0.97. The company's fifty day moving average price is $80.59 and its two-hundred day moving average price is $78.77. The company has a current ratio of 2.76, a quick ratio of 2.01 and a debt-to-equity ratio of 0.58.

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 EPS for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. The company had revenue of $1.76 billion during the quarter. On average, analysts expect that Sociedad Quimica y Minera S.A. will post 7.25 EPS for the current fiscal year.

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.

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