Sociedad Quimica y Minera (NYSE:SQM) Shares Gap Down - Here's Why

Key Points

• Sociedad Quimica y Minera's stock gapped down significantly from a previous close of $41.65 to an opening of $39.85, currently trading around $39.43 with notable trading volume.
• Analysts have mixed views on the stock, with BMO Capital Markets and Scotiabank lowering their price targets to $45.00, while JPMorgan Chase increased theirs to $41.00, resulting in a consensus rating of "Hold."
• The company reported a 4.4% year-over-year revenue decline and earnings per share of $0.48, missing analyst expectations and projecting a negative EPS of -1.31 for the current fiscal year.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $41.65, but opened at $39.85. Sociedad Quimica y Minera shares last traded at $39.43, with a volume of 659,405 shares.

Wall Street Analysts Forecast Growth

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

Sociedad Quimica y Minera Stock Performance

The company's 50-day simple moving average is $35.33 and its 200-day simple moving average is $37.14. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 16.97 and a beta of 1.07. The company has a quick ratio of 1.96, a current ratio of 2.88 and a debt-to-equity ratio of 0.71.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the prior year, the business posted ($3.04) EPS. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. Analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Sociedad Quimica y Minera by 5.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,302,897 shares of the basic materials company's stock worth $120,093,000 after buying an additional 177,323 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Sociedad Quimica y Minera by 0.9% during the 4th quarter. Lazard Asset Management LLC now owns 1,965,641 shares of the basic materials company's stock valued at $71,470,000 after purchasing an additional 18,255 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Sociedad Quimica y Minera during the 2nd quarter worth $67,759,000. Kopernik Global Investors LLC grew its holdings in Sociedad Quimica y Minera by 4.2% during the 1st quarter. Kopernik Global Investors LLC now owns 1,523,668 shares of the basic materials company's stock worth $60,535,000 after acquiring an additional 61,100 shares during the period. Finally, Earnest Partners LLC raised its holdings in 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 purchasing an additional 24,710 shares during the period. 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.