Mirae Asset Global Investments Co. Ltd. Lowers Stock Holdings in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Mirae Asset Global Investments Co. Ltd. has significantly reduced its stake in Sociedad Quimica y Minera S.A. by 62.3%, selling 30,734 shares and ending up with 18,580 shares valued at approximately $655,000.
• Sociedad Quimica y Minera reported a 19.4% year-over-year decrease in revenue for the latest quarter, with earnings per share missing analysts' estimates by $0.21.
• Equities research analysts currently maintain an average rating of "Hold" for the stock, with a price target of around $45.79, reflecting adjustments from various financial institutions.

Mirae Asset Global Investments Co. Ltd. reduced its stake in Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 62.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,580 shares of the basic materials company's stock after selling 30,734 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Sociedad Quimica y Minera were worth $655,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jump Financial LLC acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $309,000. FORA Capital LLC acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $573,000. GAMMA Investing LLC lifted its holdings in shares of Sociedad Quimica y Minera by 4,834.2% in the 1st quarter. GAMMA Investing LLC now owns 15,296 shares of the basic materials company's stock valued at $608,000 after buying an additional 14,986 shares during the period. Northern Trust Corp lifted its holdings in shares of Sociedad Quimica y Minera by 17.9% in the 1st quarter. Northern Trust Corp now owns 346,259 shares of the basic materials company's stock valued at $13,757,000 after buying an additional 52,460 shares during the period. Finally, CX Institutional acquired a new stake in shares of Sociedad Quimica y Minera in the 1st quarter valued at approximately $74,000. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Price Performance

Shares of NYSE:SQM opened at $40.86 on Friday. The company has a market cap of $11.67 billion, a P/E ratio of 24.47 and a beta of 1.08. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70. Sociedad Quimica y Minera S.A. has a 52 week low of $29.36 and a 52 week high of $47.51. The business has a fifty day simple moving average of $43.63 and a 200-day simple moving average of $38.25.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings results 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). Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same period last year, the firm posted $0.75 EPS. Sociedad Quimica y Minera's revenue was down 19.4% on a year-over-year basis. Equities research analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Analysts Set New Price Targets

SQM has been the subject of several recent analyst reports. Jefferies Financial Group reissued a "hold" rating and issued a $50.00 price target (down from $53.00) on shares of Sociedad Quimica y Minera in a report on Monday, October 6th. Bank of America raised their price target on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. lifted their price objective on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. BMO Capital Markets lifted their price objective on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Finally, Zacks Research raised Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.79.

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.

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