Barometer Capital Management Inc. bought a new stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 25,800 shares of the basic materials company's stock, valued at approximately $2,088,000.
Several other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its position in shares of Sociedad Quimica y Minera by 18.5% in the 1st quarter. Royal Bank of Canada now owns 198,789 shares of the basic materials company's stock valued at $7,898,000 after buying an additional 31,066 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sociedad Quimica y Minera by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 358,646 shares of the basic materials company's stock worth $14,249,000 after purchasing an additional 125,506 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Sociedad Quimica y Minera by 20.4% during the 2nd quarter. Cetera Investment Advisers now owns 20,886 shares of the basic materials company's stock valued at $737,000 after purchasing an additional 3,545 shares in the last quarter. Invesco Ltd. grew its position in shares of Sociedad Quimica y Minera by 38.3% in the 2nd quarter. Invesco Ltd. now owns 159,027 shares of the basic materials company's stock valued at $5,609,000 after purchasing an additional 44,062 shares during the period. Finally, First Trust Advisors LP increased its stake in Sociedad Quimica y Minera by 3.0% during the 2nd quarter. First Trust Advisors LP now owns 124,575 shares of the basic materials company's stock worth $4,394,000 after purchasing an additional 3,634 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. CLSA raised shares of Sociedad Quimica y Minera to an "outperform" rating in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. cut Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and increased their target price for the stock from $94.00 to $100.00 in a report on Tuesday, June 2nd. Wall Street Zen raised Sociedad Quimica y Minera from a "buy" rating to a "strong-buy" rating in a research note on Sunday, July 12th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Sociedad Quimica y Minera in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $74.58.
View Our Latest Research Report on Sociedad Quimica y Minera
Sociedad Quimica y Minera Stock Up 1.5%
Shares of SQM stock opened at $68.71 on Wednesday. The firm's fifty day moving average price is $77.37 and its two-hundred day moving average price is $78.80. 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 S.A. has a 1 year low of $35.67 and a 1 year high of $98.00. The firm has a market capitalization of $19.63 billion, a P/E ratio of 24.11, a PEG ratio of 0.19 and a beta of 0.97.
Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The business had revenue of $1.76 billion during the quarter. On average, equities analysts predict that Sociedad Quimica y Minera S.A. will post 7.28 EPS for the current fiscal year.
About Sociedad Quimica y Minera
(
Free Report)
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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