Sociedad Quimica y Minera S.A. $SQM Stake Lowered by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC reduced its position in Sociedad Quimica y Minera S.A. by **61.3%** during the second quarter, owning **11,700 shares** worth approximately **$413,000** as per its SEC filing.
• Sociedad Quimica y Minera reported **earnings of $0.31 per share**, missing estimates and showing a **19.4% decrease** in revenue compared to the previous year, with quarterly revenue of **$1.04 billion**.
• Analysts have mixed reviews on Sociedad Quimica y Minera, with price targets ranging from **$36.50 to $55.00**, and a current consensus rating of **"Hold"** with a target price of **$45.08**.

Hedges Asset Management LLC lessened its position in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 61.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,700 shares of the basic materials company's stock after selling 18,500 shares during the quarter. Hedges Asset Management LLC's holdings in Sociedad Quimica y Minera were worth $413,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Nuveen LLC purchased a new position in shares of Sociedad Quimica y Minera in the 1st quarter valued at about $39,154,000. Nuveen Asset Management LLC acquired a new stake in Sociedad Quimica y Minera during the 4th quarter worth approximately $35,832,000. RWC Asset Advisors US LLC acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $37,170,000. Lord Abbett & CO. LLC acquired a new position in Sociedad Quimica y Minera during the first quarter worth $19,666,000. Finally, RWC Asset Management LLP purchased a new position in Sociedad Quimica y Minera during the first quarter worth $10,213,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SQM shares. Itau BBA Securities started coverage on Sociedad Quimica y Minera in a research report on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price objective for the company. BMO Capital Markets lifted their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. lifted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Bank of America boosted their price objective on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an "underperform" rating in a research note on Tuesday, August 26th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.08.

Sociedad Quimica y Minera Stock Up 0.7%

Sociedad Quimica y Minera stock traded up $0.30 during midday trading on Friday, hitting $43.42. The stock had a trading volume of 224,249 shares, compared to its average volume of 1,264,250. The company has a current ratio of 2.92, a quick ratio of 1.93 and a debt-to-equity ratio of 0.70. The stock has a market cap of $12.40 billion, a P/E ratio of 26.08 and a beta of 1.07. Sociedad Quimica y Minera S.A. has a 12 month low of $29.36 and a 12 month high of $47.51. The business has a fifty day moving average price of $42.03 and a 200 day moving average price of $38.17.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.08 billion. Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The firm's quarterly revenue was down 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 earnings per share. Research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Sociedad Quimica y Minera Profile

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.