Sociedad Quimica y Minera (NYSE:SQM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded SQM from “buy” to “strong buy,” although the broader analyst consensus remains “hold,” with an average price target of $75.27.
• SQM reported quarterly EPS of $2.31, beating estimates of $2.03, while revenue reached $2.47 billion and rose 136.7% year over year.
• The stock opened at $82.12, with a market capitalization of $23.46 billion; institutional investors and hedge funds own approximately 12.41% of the company.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) was upgraded by analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also commented on SQM. Weiss Ratings reiterated a "hold (c)" rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lowered shares of Sociedad Quimica y Minera from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $94.00 to $100.00 in a research report on Tuesday, June 2nd. CLSA upgraded shares of Sociedad Quimica y Minera to an "outperform" rating in a research note on Tuesday, June 2nd. Scotiabank decreased their price objective on shares of Sociedad Quimica y Minera from $105.00 to $93.00 and set a "sector outperform" rating for the company in a research note on Tuesday, July 28th. Finally, The Goldman Sachs Group upped their price objective on shares of Sociedad Quimica y Minera from $64.00 to $82.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Sociedad Quimica y Minera presently has an average rating of "Hold" and an average price target of $75.27.

Sociedad Quimica y Minera Stock Performance

Shares of SQM opened at $82.12 on Friday. The stock has a 50-day moving average of $72.99 and a two-hundred day moving average of $77.69. Sociedad Quimica y Minera has a one year low of $40.58 and a one year high of $98.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. The stock has a market cap of $23.46 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.27 and a beta of 0.98.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 19th. The basic materials company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.28. Sociedad Quimica y Minera had a return on equity of 19.08% and a net margin of 20.62%.The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The company's revenue was up 136.7% on a year-over-year basis. As a group, research analysts predict that Sociedad Quimica y Minera will post 7.43 EPS for the current year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQM. Caitong International Asset Management Co. Ltd purchased a new position in Sociedad Quimica y Minera during the fourth quarter valued at $29,000. Parallel Advisors LLC increased its stake in shares of Sociedad Quimica y Minera by 43.2% during the first quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company's stock worth $67,000 after purchasing an additional 248 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Sociedad Quimica y Minera by 59.5% during the first quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company's stock worth $68,000 after purchasing an additional 313 shares in the last quarter. Leonteq Securities AG acquired a new position in shares of Sociedad Quimica y Minera during the 4th quarter worth about $58,000. Finally, Ameriflex Group Inc. purchased a new position in Sociedad Quimica y Minera in the 4th quarter valued at about $60,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

Sociedad Quimica y Minera Company Profile

Sociedad Química y Minera de Chile SA NYSE: SQM is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM's product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.

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