Sociedad Quimica y Minera (NYSE:SQM) Shares Up 3.2% - Time to Buy?

Key Points

• Sociedad Quimica y Minera (NYSE: SQM) shares rose by 3.2% to $45.12, with trading volume significantly lower than the average at just 149,995 shares.
• Analysts have mixed ratings for SQM, with a consensus rating of "Hold" and an average price target of $45.08, while some firms have increased price targets as high as $55.00.
• The company reported an earnings miss with $0.31 EPS this quarter, falling short of expectations, and experienced a 19.4% decline in revenue year-over-year.

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report) shot up 3.2% during mid-day trading on Thursday . The stock traded as high as $44.35 and last traded at $45.12. 149,995 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,258,340 shares. The stock had previously closed at $43.72.

Analyst Ratings Changes

SQM has been the subject of a number of research analyst reports. Scotiabank decreased their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Zacks Research raised Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. BMO Capital Markets raised their price objective on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Itau BBA Securities began coverage on shares of Sociedad Quimica y Minera in a research report on Thursday, September 4th. They set an "outperform" rating and a $55.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $45.08.

Sociedad Quimica y Minera Trading Up 2.2%

The stock has a market cap of $12.76 billion, a PE ratio of 26.70 and a beta of 1.07. The business's fifty day moving average is $42.55 and its 200 day moving average is $38.25. 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 announced 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 analysts' expectations of $1.08 billion. Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.Sociedad Quimica y Minera's revenue was down 19.4% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. As a group, analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of institutional investors have recently modified their holdings of the company. Brooklyn Investment Group increased its stake in Sociedad Quimica y Minera by 61,700.0% in the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock valued at $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 valued at about $34,000. Farther Finance Advisors LLC increased its stake 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 valued at $34,000 after acquiring an additional 586 shares during the last quarter. Grove Bank & Trust acquired a new position in Sociedad Quimica y Minera during the first quarter worth approximately $46,000. Finally, IFP Advisors Inc increased its position in Sociedad Quimica y Minera by 728.0% during the first 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.