Sociedad Quimica y Minera (NYSE:SQM) Hits New 52-Week High - Should You Buy?

Key Points

• Sociedad Quimica y Minera hit a new 52-week high of $95.56 (trading around $94.59 on volume ~659,248); several brokers have upgraded targets (JPMorgan raised its target to $93) but MarketBeat's consensus remains a Hold with a $71.42 price target.
• The company declared a quarterly dividend of $1.0295 (ex-dividend May 8, payable May 26), implying an annualized $4.12 and a 4.4% yield with a low payout ratio of 5.85%.
• SQM has a $26.76 billion market cap and a P/E of 45.70 (50-/200-day moving averages $80.86/$70.68); in the most recent quarter it reported $0.64 EPS on $1.32 billion revenue with a 12.85% net margin.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $95.56 and last traded at $94.5880, with a volume of 659248 shares. The stock had previously closed at $92.64.

Wall Street Analysts Forecast Growth

SQM has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of Sociedad Quimica y Minera from $79.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Sociedad Quimica y Minera in a research note on Friday, March 27th. Wall Street Zen upgraded shares of Sociedad Quimica y Minera from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. BMO Capital Markets restated an "outperform" rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, March 4th. Finally, Clarkson Capital restated a "neutral" rating and set a $90.00 price objective on shares of Sociedad Quimica y Minera in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $71.42.

Sociedad Quimica y Minera Price Performance

The company has a market cap of $26.76 billion, a P/E ratio of 45.70, a P/E/G ratio of 0.27 and a beta of 1.00. The stock's 50-day moving average is $80.86 and its two-hundred day moving average is $70.68.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings data on Saturday, February 14th. The basic materials company reported $0.64 earnings per share for the quarter. The company had revenue of $1.32 billion for the quarter. Sociedad Quimica y Minera had a net margin of 12.85% and a return on equity of 9.69%. On average, analysts predict that Sociedad Quimica y Minera S.A. will post 6.74 EPS for the current year.

Sociedad Quimica y Minera Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Friday, May 8th will be given a dividend of $1.0295 per share. The ex-dividend date is Friday, May 8th. This represents a $4.12 dividend on an annualized basis and a yield of 4.4%. Sociedad Quimica y Minera's dividend payout ratio is 5.85%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth $29,000. GAMMA Investing LLC boosted its stake in shares of Sociedad Quimica y Minera by 138.4% during the 4th quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company's stock worth $30,000 after acquiring an additional 256 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Sociedad Quimica y Minera by 37.0% during 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 last quarter. Leonteq Securities AG purchased a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth $58,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth $60,000. Institutional investors own 12.41% of the company's stock.

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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