Sociedad Quimica y Minera (NYSE:SQM) Trading Up 7.9% - Still a Buy?

Sociedad Quimica y Minera S.A. (NYSE:SQM - Get Free Report)'s share price shot up 7.9% during trading on Thursday . The company traded as high as $39.43 and last traded at $39.12. 1,043,359 shares traded hands during mid-day trading, a decline of 6% from the average session volume of 1,113,870 shares. The stock had previously closed at $36.25.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets dropped 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 report on Thursday, May 29th. Scotiabank lowered 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 report on Friday, May 30th. Finally, JPMorgan Chase & Co. cut their price target on Sociedad Quimica y Minera from $44.00 to $39.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Sociedad Quimica y Minera presently has a consensus rating of "Hold" and an average target price of $41.14.

Sociedad Quimica y Minera Stock Up 7.4%

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.96 and a current ratio of 2.88. The firm has a 50 day simple moving average of $34.34 and a two-hundred day simple moving average of $37.03. The stock has a market cap of $11.12 billion, a P/E ratio of 18.45 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.15). The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. Sociedad Quimica y Minera had a return on equity of 11.71% and a net margin of 13.45%. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($3.04) EPS. Equities research analysts predict 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 hedge funds and other institutional investors have recently added to or reduced their stakes in SQM. Kingstone Capital Partners Texas LLC bought a new position in shares of Sociedad Quimica y Minera during the 2nd quarter valued at about $67,759,000. Nuveen LLC acquired a new stake in Sociedad Quimica y Minera during the first quarter valued at approximately $39,154,000. Nuveen Asset Management LLC bought a new stake in Sociedad Quimica y Minera during the fourth quarter worth approximately $35,832,000. RWC Asset Advisors US LLC acquired a new position in Sociedad Quimica y Minera in the first quarter worth approximately $37,170,000. Finally, Lord Abbett & CO. LLC acquired a new position in Sociedad Quimica y Minera in the first quarter worth approximately $19,666,000. Institutional investors 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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