Sociedad Quimica y Minera (NYSE:SQM) Shares Gap Down - Time to Sell?

Key Points

• Sociedad Quimica y Minera's stock price fell sharply, opening at $43.00 after a previous close of $45.48, with shares last trading at $42.62.
• Despite the recent downturn, analysts have mixed outlooks, with price targets varying from $45.00 to $55.00, indicating a consensus rating of "Hold".
• The company reported earnings of $0.31 EPS for the last quarter, missing estimates significantly, with a revenue decline of 19.4% year-over-year.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $45.48, but opened at $43.00. Sociedad Quimica y Minera shares last traded at $42.62, with a volume of 636,807 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Itau BBA Securities assumed coverage on shares of Sociedad Quimica y Minera in a research note on Thursday, September 4th. They set an "outperform" rating and a $55.00 target price for the company. Scotiabank lowered their target price on shares of Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research note on Friday, May 30th. Bank of America boosted their target price on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the company an "underperform" rating in a research note on Tuesday, August 26th. Finally, Zacks Research upgraded shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sociedad Quimica y Minera presently has an average rating of "Hold" and a consensus target price of $45.08.

Sociedad Quimica y Minera Stock Down 7.6%

The firm's 50-day moving average price is $41.17 and its 200 day moving average price is $37.96. The firm has a market cap of $12.00 billion, a P/E ratio of 25.16 and a beta of 1.06. The company has a quick ratio of 1.93, a current ratio of 2.92 and a debt-to-equity ratio of 0.70.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The basic materials company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.21). The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The firm's revenue was down 19.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. As a group, research analysts expect that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Several institutional investors have recently bought and sold shares of SQM. Kingstone Capital Partners Texas LLC acquired a new stake in Sociedad Quimica y Minera in the second quarter worth about $67,759,000. Nuveen LLC acquired a new stake in Sociedad Quimica y Minera in the first quarter worth about $39,154,000. Nuveen Asset Management LLC acquired a new stake in Sociedad Quimica y Minera in the fourth quarter worth about $35,832,000. RWC Asset Advisors US LLC acquired a new stake in Sociedad Quimica y Minera in the first quarter worth about $37,170,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Sociedad Quimica y Minera in the second quarter worth about $32,432,000. 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.

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