Hedges Asset Management LLC Has $413,000 Position in Sociedad Quimica y Minera S.A. $SQM

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 lowered its holdings in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 61.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Kopernik Global Investors LLC boosted its stake in Sociedad Quimica y Minera by 4.2% in the first quarter. Kopernik Global Investors LLC now owns 1,523,668 shares of the basic materials company's stock worth $60,535,000 after purchasing an additional 61,100 shares in the last quarter. Earnest Partners LLC boosted its stake in Sociedad Quimica y Minera by 2.3% in the first quarter. Earnest Partners LLC now owns 1,096,049 shares of the basic materials company's stock worth $43,546,000 after purchasing an additional 24,710 shares in the last quarter. Nuveen LLC acquired a new position in Sociedad Quimica y Minera in the first quarter worth $39,154,000. Nuveen Asset Management LLC acquired a new position in Sociedad Quimica y Minera in the fourth quarter worth $35,832,000. Finally, RWC Asset Advisors US LLC acquired a new position in Sociedad Quimica y Minera in the first quarter worth $37,170,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Trading Down 1.5%

Shares of SQM opened at $41.96 on Friday. Sociedad Quimica y Minera S.A. has a 12-month low of $29.36 and a 12-month high of $47.51. The stock's fifty day simple moving average is $41.60 and its 200-day simple moving average is $38.03. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $11.98 billion, a PE ratio of 25.12 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its earnings results 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). Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the company posted $0.75 EPS. The company's quarterly revenue was down 19.4% compared to the same quarter last year. As a group, research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Analysts Set New Price Targets

SQM has been the topic of a number of recent analyst reports. Itau BBA Securities initiated coverage on Sociedad Quimica y Minera in a research note on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price objective on the stock. Bank of America upped their price target on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research note on Tuesday, August 26th. JPMorgan Chase & Co. upped their price target on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Scotiabank cut their price target on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. Finally, BMO Capital Markets upped their price target on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Sociedad Quimica y Minera presently has a consensus rating of "Hold" and a consensus target price of $45.08.

Sociedad Quimica y Minera Company 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.

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