Sociedad Quimica y Minera (NYSE:SQM) Coverage Initiated by Analysts at Itau BBA Securities

Key Points

• Itau BBA Securities has initiated coverage of Sociedad Quimica y Minera (SQM) with an "outperform" rating and a target price of $55.00, indicating a potential upside of 25.86% from its previous closing price.
• Despite mixed ratings from other analysts, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.08.
• Sociedad Quimica y Minera reported a quarterly earnings miss, with an EPS of $0.31, falling short of the consensus estimate of $0.52, reflecting a year-over-year revenue decline of 19.4%.

Stock analysts at Itau BBA Securities assumed coverage on shares of Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) in a report released on Thursday. The firm set an "outperform" rating and a $55.00 price target on the basic materials company's stock. Itau BBA Securities' target price suggests a potential upside of 25.86% from the stock's previous close.

A number of other analysts have also commented on the stock. Scotiabank reduced their price objective on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Zacks Research upgraded shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Bank of America raised their price objective on shares of 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. 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. Finally, BMO Capital Markets raised their target price on 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. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.08.

Sociedad Quimica y Minera Stock Up 0.0%

Shares of SQM stock traded up $0.02 during mid-day trading on Thursday, reaching $43.70. 100,562 shares of the company were exchanged, compared to its average volume of 1,270,871. The company has a market capitalization of $12.48 billion, a P/E ratio of 26.17 and a beta of 1.07. Sociedad Quimica y Minera has a fifty-two week low of $29.36 and a fifty-two week high of $47.51. The business's 50 day simple moving average is $40.57 and its 200 day simple moving average is $37.85. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.96 and a current ratio of 2.92.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth approximately $261,000. Northern Trust Corp raised its stake in shares of Sociedad Quimica y Minera by 367.9% in the 4th quarter. Northern Trust Corp now owns 293,799 shares of the basic materials company's stock valued at $10,683,000 after buying an additional 231,010 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Sociedad Quimica y Minera by 40.9% in the 4th quarter. BNP Paribas Financial Markets now owns 214,169 shares of the basic materials company's stock valued at $7,787,000 after buying an additional 62,121 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth about $417,000. Finally, Ethic Inc. boosted its position in shares of Sociedad Quimica y Minera by 151.2% during the 4th quarter. Ethic Inc. now owns 16,644 shares of the basic materials company's stock valued at $605,000 after acquiring an additional 10,018 shares in the last quarter. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Company 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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