Sociedad Quimica y Minera (NYSE:SQM) Coverage Initiated at Rothschild & Co Redburn

Key Points

• Rothschild & Co Redburn has initiated coverage of Sociedad Quimica y Minera (NYSE:SQM) with a "neutral" rating and a price target of $54.00, indicating a potential upside of 21.21% from the stock's previous close.
• The company reported a 19.4% decline in revenue from the same quarter last year, with a quarterly earnings per share (EPS) of $0.31, missing analysts' estimates of $0.52 by $0.21.
• As of now, Sociedad Quimica y Minera holds an average rating of "Hold" with a consensus target price of $46.81, reflecting interest from several analysts with varied ratings from Buy to Sell.

Research analysts at Rothschild & Co Redburn initiated coverage on shares of Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) in a research note issued on Friday,Benzinga reports. The brokerage set a "neutral" rating and a $54.00 price target on the basic materials company's stock. Rothschild & Co Redburn's price objective points to a potential upside of 21.21% from the company's previous close.

Several other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Weiss Ratings restated a "sell (d+)" rating on shares of Sociedad Quimica y Minera in a report on Wednesday, October 8th. Bank of America increased their target price 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. BMO Capital Markets increased their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company 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 research report on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Sociedad Quimica y Minera presently has an average rating of "Hold" and a consensus target price of $46.81.

Sociedad Quimica y Minera Price Performance

SQM opened at $44.55 on Friday. The stock has a 50-day moving average price of $44.08 and a 200-day moving average price of $38.54. Sociedad Quimica y Minera has a 12-month low of $29.36 and a 12-month high of $47.51. The company has a current ratio of 2.92, a quick ratio of 1.93 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $12.72 billion, a P/E ratio of 26.68 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted 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 firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.Sociedad Quimica y Minera's revenue for the quarter was down 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Equities analysts predict that Sociedad Quimica y Minera will post -1.31 earnings per share for the current fiscal year.

Institutional Trading of Sociedad Quimica y Minera

Several large investors have recently added to or reduced their stakes in SQM. Robeco Institutional Asset Management B.V. grew its stake in Sociedad Quimica y Minera by 7.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 112,883 shares of the basic materials company's stock valued at $4,485,000 after purchasing an additional 7,736 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Sociedad Quimica y Minera by 5.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 100,983 shares of the basic materials company's stock worth $4,012,000 after purchasing an additional 5,144 shares during the period. Leavell Investment Management Inc. acquired a new stake in Sociedad Quimica y Minera during the 1st quarter worth about $246,000. Alps Advisors Inc. grew its position in Sociedad Quimica y Minera by 57.0% during the 1st quarter. Alps Advisors Inc. now owns 97,934 shares of the basic materials company's stock worth $3,891,000 after purchasing an additional 35,552 shares during the period. Finally, Cerity Partners LLC acquired a new stake in Sociedad Quimica y Minera during the 1st quarter worth about $242,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

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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