Sociedad Quimica y Minera (NYSE:SQM) Downgraded by Wall Street Zen to Buy

Key Points

• Wall Street Zen downgraded SQM from “strong buy” to “buy,” while broader analyst sentiment remains “Hold,” with a consensus price target of $73.58.
• Analyst views are mixed: Deutsche Bank maintains a “buy” rating, Goldman Sachs and JPMorgan rate the stock “neutral,” and eight analysts have issued “hold” ratings.
• SQM opened at $67.00, below its 50-day and 200-day moving averages, but reported quarterly EPS of $1.28 on $1.76 billion in revenue and analysts expect $7.45 in full-year EPS.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report issued on Saturday.

A number of other equities research analysts also recently commented on SQM. CLSA upgraded shares of Sociedad Quimica y Minera to an "outperform" rating in a research report on Tuesday, June 2nd. The Goldman Sachs Group boosted their target price on Sociedad Quimica y Minera from $64.00 to $82.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on Sociedad Quimica y Minera from $105.00 to $98.00 and set a "buy" rating for the company in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. downgraded Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $94.00 to $100.00 in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Sociedad Quimica y Minera has an average rating of "Hold" and a consensus price target of $73.58.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $67.00 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The stock has a market capitalization of $19.14 billion, a P/E ratio of 23.51, a P/E/G ratio of 0.18 and a beta of 0.97. The company's fifty day moving average is $74.97 and its two-hundred day moving average is $78.53. Sociedad Quimica y Minera has a 1 year low of $35.67 and a 1 year high of $98.00.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its earnings results on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. The company had revenue of $1.76 billion during the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. On average, sell-side analysts predict that Sociedad Quimica y Minera will post 7.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sociedad Quimica y Minera during the 4th quarter worth approximately $29,000. Signaturefd LLC grew its holdings in shares of Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company's stock worth $45,000 after acquiring an additional 177 shares during the period. Parallel Advisors LLC increased its stake in Sociedad Quimica y Minera by 43.2% in the 1st quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company's stock valued at $67,000 after purchasing an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Sociedad Quimica y Minera by 59.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company's stock valued at $68,000 after purchasing an additional 313 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in Sociedad Quimica y Minera during the fourth quarter worth $58,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA NYSE: SQM is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM's product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

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