Peregrine Investment Management Inc. Has $4.87 Million Stock Position in Sociedad Quimica y Minera S.A. $SQM

Key Points

• Peregrine Investment Management Inc. has reduced its stake in Sociedad Quimica y Minera S.A. (NYSE:SQM) by 12.1%, now holding 138,180 shares valued at approximately $4.87 million.
• Sociedad Quimica y Minera reported earnings of $0.31 per share, missing estimates by $0.21, and revenue of $1.04 billion, lower than analyst expectations of $1.08 billion.
• Equities analysts have mixed opinions on Sociedad Quimica y Minera, with BMO Capital Markets raising its price target to $55.00, while Bank of America lowered its target to $43.50.

Peregrine Investment Management Inc. decreased its position in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 12.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,180 shares of the basic materials company's stock after selling 18,960 shares during the period. Sociedad Quimica y Minera accounts for approximately 3.1% of Peregrine Investment Management Inc.'s portfolio, making the stock its 16th biggest position. Peregrine Investment Management Inc.'s holdings in Sociedad Quimica y Minera were worth $4,874,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC boosted its position in Sociedad Quimica y Minera by 16.9% during the second quarter. MFA Wealth Advisors LLC now owns 10,415 shares of the basic materials company's stock valued at $367,000 after purchasing an additional 1,507 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Sociedad Quimica y Minera by 23.5% during the second quarter. Park Avenue Securities LLC now owns 6,251 shares of the basic materials company's stock valued at $220,000 after buying an additional 1,189 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Sociedad Quimica y Minera by 153.0% during the second quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company's stock valued at $34,000 after buying an additional 586 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Sociedad Quimica y Minera during the second quarter valued at about $67,759,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Sociedad Quimica y Minera by 6.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 22,140 shares of the basic materials company's stock valued at $823,000 after buying an additional 1,346 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Stock Down 0.2%

SQM stock opened at $43.22 on Wednesday. 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 market cap of $12.35 billion, a PE ratio of 25.88 and a beta of 1.07. The business's 50-day simple moving average is $42.39 and its 200 day simple moving average is $38.21. 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 (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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.21). The company had revenue of $1.04 billion for 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 firm's revenue for the quarter was down 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, research analysts anticipate that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SQM shares. 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 research note on Thursday, August 21st. Bank of America lifted 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. Itau BBA Securities began 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. JPMorgan Chase & Co. lifted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Finally, Scotiabank decreased their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research report on Friday, May 30th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Sociedad Quimica y Minera currently has an average rating of "Hold" and a consensus target price of $45.08.

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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