Sociedad Quimica y Minera S.A. (NYSE:SQM) Shares Acquired by Wealthedge Investment Advisors LLC

Key Points

• Wealthedge Investment Advisors LLC increased its holdings in Sociedad Quimica y Minera S.A. by 64.3% during the first quarter, now owning 18,010 shares worth approximately $716,000.
• Analyst ratings for SQM shares vary, with BMO Capital Markets and Scotiabank cutting their target prices to $45.00, while JPMorgan Chase & Co. raised it to $41.00.
• In its recent earnings report, Sociedad Quimica y Minera missed expectations with an EPS of $0.48 against a consensus estimate of $0.63, resulting in a revenue decline of 4.4% year-over-year.

Wealthedge Investment Advisors LLC lifted its holdings in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM - Free Report) by 64.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,010 shares of the basic materials company's stock after acquiring an additional 7,051 shares during the period. Wealthedge Investment Advisors LLC's holdings in Sociedad Quimica y Minera were worth $716,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SQM. Banque Cantonale Vaudoise acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth about $34,000. Grove Bank & Trust acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth about $46,000. IFP Advisors Inc increased its position in shares of Sociedad Quimica y Minera by 728.0% during the first quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock worth $49,000 after purchasing an additional 1,092 shares in the last quarter. CX Institutional acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth about $74,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth about $96,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on SQM shares. BMO Capital Markets cut their target price on Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. 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 cut 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. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $42.50.

Sociedad Quimica y Minera Stock Performance

Shares of SQM stock opened at $45.53 on Friday. The stock has a market capitalization of $13.01 billion, a PE ratio of 21.58 and a beta of 1.03. Sociedad Quimica y Minera S.A. has a 52-week low of $29.36 and a 52-week high of $47.39. The stock's 50-day moving average price is $37.17 and its 200 day moving average price is $37.23. The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.15). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. Sociedad Quimica y Minera had a net margin of 13.45% and a return on equity of 11.71%. The business's revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned ($3.04) EPS. As a group, equities research analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

About Sociedad Quimica y Minera

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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