Sociedad Quimica y Minera (NYSE:SQM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has raised its price target for Sociedad Quimica y Minera's stock from $39.00 to $41.00, indicating a potential upside of 4.01%.
• The stock currently holds a consensus rating of "Hold" with an average price target of $41.43, amidst varying analyst ratings including two sells and four buys.
• Sociedad Quimica y Minera reported $0.48 EPS in its last earnings announcement, missing estimates by ($0.15) and showing a 4.4% decline in quarterly revenue year-over-year.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $39.00 to $41.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the basic materials company's stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 4.01% from the company's previous close.

SQM has been the topic of a number of other research reports. Scotiabank dropped 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 report on Friday, May 30th. BMO Capital Markets reduced their target price 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $41.43.

Sociedad Quimica y Minera Stock Performance

Shares of SQM stock traded down $2.23 during trading hours on Monday, reaching $39.42. The stock had a trading volume of 1,222,436 shares, compared to its average volume of 1,225,085. The firm has a market capitalization of $11.26 billion, a PE ratio of 18.70 and a beta of 1.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.88 and a quick ratio of 1.96. The firm has a 50-day simple moving average of $35.00 and a 200-day simple moving average of $37.14. Sociedad Quimica y Minera has a twelve month low of $29.36 and a twelve month high of $45.89.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 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 during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned ($3.04) earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of large investors have recently bought and sold shares of the business. Brooklyn Investment Group increased its holdings 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 buying an additional 617 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Sociedad Quimica y Minera during the first quarter worth about $34,000. Farther Finance Advisors LLC grew its holdings in shares of Sociedad Quimica y Minera by 153.0% during the second 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 purchased a new position in shares of Sociedad Quimica y Minera during the first quarter worth about $46,000. Finally, IFP Advisors Inc grew its holdings in shares of 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.

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