Sociedad Quimica y Minera (NYSE:SQM) Shares Up 7.9% - Here's Why

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BMO Capital Markets lowered their price target on Sociedad Quimica y Minera from $55.00 to $45.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Scotiabank decreased their price objective 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. decreased their price objective on Sociedad Quimica y Minera from $44.00 to $39.00 and set a "neutral" rating for the company in a report on Thursday, June 12th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $41.14.

Sociedad Quimica y Minera Stock Performance

The company has a market capitalization of $11.04 billion, a price-to-earnings ratio of 18.32 and a beta of 1.07. 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 company's fifty day simple moving average is $34.50 and its two-hundred day simple moving average is $37.07.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The basic materials company reported $0.48 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted ($3.04) earnings per share. The firm's quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that Sociedad Quimica y Minera S.A. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group increased its position in shares of Sociedad Quimica y Minera by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock worth $25,000 after purchasing an additional 617 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $34,000. Farther Finance Advisors LLC increased its position in Sociedad Quimica y Minera by 153.0% in 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 in the last quarter. Grove Bank & Trust acquired a new stake in Sociedad Quimica y Minera in the 1st quarter valued at about $46,000. Finally, IFP Advisors Inc increased its position in Sociedad Quimica y Minera by 728.0% in the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 1,092 shares in the last quarter. 12.41% of the stock is owned by institutional investors.

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.