Sociedad Quimica y Minera (NYSE:SQM) Sets New 1-Year High - Time to 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 reached 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 changing hands. The stock had previously closed at $42.22.

Wall Street Analysts Forecast Growth

Several research firms have commented on SQM. JPMorgan Chase & Co. upped their price target on shares of Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. BMO Capital Markets lowered 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 report on Thursday, May 29th. Finally, Scotiabank lowered their target price 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. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $42.50.

Sociedad Quimica y Minera Stock Performance

The firm's 50 day moving average price is $36.62 and its 200-day moving average price is $37.12. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.96 and a current ratio of 2.88. The firm has a market capitalization of $13.21 billion, a PE ratio of 21.90 and a beta of 1.03.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its earnings results 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). Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the company earned ($3.04) earnings per share. The company's revenue was down 4.4% compared to the same quarter last year. On average, research analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Brooklyn Investment Group raised its position in shares of Sociedad Quimica y Minera by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock worth $25,000 after purchasing an additional 617 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Sociedad Quimica y Minera during the 1st quarter worth about $34,000. Farther Finance Advisors LLC raised its position in shares of Sociedad Quimica y Minera by 153.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company's stock worth $34,000 after purchasing an additional 586 shares during the last quarter. Grove Bank & Trust acquired a new position in shares of Sociedad Quimica y Minera during the 1st quarter worth about $46,000. Finally, IFP Advisors Inc raised its position in shares of Sociedad Quimica y Minera by 728.0% during the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock worth $49,000 after purchasing an additional 1,092 shares during the last quarter. Institutional investors and hedge funds 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.