Sociedad Quimica y Minera (NYSE:SQM) Sets New 12-Month High - Should You Buy?

Key Points

• Sociedad Quimica y Minera (NYSE:SQM) achieved a new 52-week high with a stock price peak of $46.26, closing at $45.46 after previously sitting at $42.22.
• Consensus ratings from analysts show a mixed outlook, with an average rating of "Hold" and target prices ranging from $39.00 to $55.00.
• The company's most recent earnings report revealed a net revenue decline of 4.4% year-over-year, with earnings per share of $0.48 falling short of consensus estimates.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $46.26 and last traded at $45.46, with a volume of 163059 shares traded. The stock had previously closed at $42.22.

Analyst Ratings Changes

Several brokerages recently commented on SQM. Scotiabank cut their price target on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. BMO Capital Markets cut their price target on shares of Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.50.

Sociedad Quimica y Minera Stock Down 0.8%

The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.90 billion, a PE ratio of 21.40 and a beta of 1.03. The firm's 50 day moving average is $37.41 and its 200-day moving average is $37.27.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted ($3.04) EPS. As a group, equities research analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

Several institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC raised its stake in Sociedad Quimica y Minera by 0.9% during the fourth quarter. Lazard Asset Management LLC now owns 1,965,641 shares of the basic materials company's stock worth $71,470,000 after purchasing an additional 18,255 shares during the period. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Sociedad Quimica y Minera in the second quarter worth $67,759,000. Kopernik Global Investors LLC increased its position in shares of Sociedad Quimica y Minera by 20.9% in the second quarter. Kopernik Global Investors LLC now owns 1,842,113 shares of the basic materials company's stock worth $64,971,000 after acquiring an additional 318,445 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sociedad Quimica y Minera by 5.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,460,104 shares of the basic materials company's stock worth $51,498,000 after acquiring an additional 76,378 shares in the last quarter. Finally, Earnest Partners LLC increased its position in shares of Sociedad Quimica y Minera by 2.3% in the first quarter. Earnest Partners LLC now owns 1,096,049 shares of the basic materials company's stock worth $43,546,000 after acquiring an additional 24,710 shares in the last quarter. Hedge funds and other institutional investors 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.