MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 75,282 Shares of Sociedad Quimica y Minera S.A. $SQM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Sociedad Quimica y Minera S.A. by 5.2%, after selling 75,282 shares, bringing its total ownership to about 1.38 million shares valued at $54.98 million.
• Sociedad Quimica y Minera reported a loss in earnings per share of $0.31 for the last quarter, missing estimates, with revenues also falling 19.4% year-over-year.
• Recent analyst coverage has resulted in varied ratings for the stock, with an average rating of "Hold" and a consensus price target of $45.08.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 5.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,383,726 shares of the basic materials company's stock after selling 75,282 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.48% of Sociedad Quimica y Minera worth $54,976,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SQM. Brooklyn Investment Group grew its holdings in shares of Sociedad Quimica y Minera by 61,700.0% during the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock worth $25,000 after purchasing an additional 617 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Sociedad Quimica y Minera during the 1st quarter worth approximately $34,000. Grove Bank & Trust purchased a new position in Sociedad Quimica y Minera during the 1st quarter valued at about $46,000. IFP Advisors Inc lifted its holdings in Sociedad Quimica y Minera by 728.0% in the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 1,092 shares in the last quarter. Finally, CX Institutional purchased a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $74,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SQM. Itau BBA Securities began coverage on shares of Sociedad Quimica y Minera in a report on Thursday, September 4th. They issued an "outperform" rating and a $55.00 price target on the stock. BMO Capital Markets boosted their price target on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. upped their price target on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Scotiabank decreased their price target on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. Finally, Bank of America increased their price target on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research report on Tuesday, August 26th. Three 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.08.

Sociedad Quimica y Minera Stock Up 2.6%

Shares of Sociedad Quimica y Minera stock traded up $1.11 on Thursday, hitting $42.96. The company had a trading volume of 1,007,610 shares, compared to its average volume of 1,277,081. Sociedad Quimica y Minera S.A. has a twelve month low of $29.36 and a twelve month high of $47.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The stock has a 50-day moving average of $41.39 and a 200-day moving average of $38.01. The firm has a market capitalization of $12.27 billion, a P/E ratio of 25.71 and a beta of 1.07.

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