Sociedad Quimica y Minera (NYSE:SQM) Upgraded at Weiss Ratings

Key Points

• Sociedad Quimica y Minera (NYSE:SQM) was upgraded from a "sell (d+)" to a "hold (c-)" rating by Weiss Ratings, indicating a more favorable outlook.
• BMO Capital Markets increased their price target for SQM from $45.00 to $55.00 and rated the stock as "outperform," reflecting positive sentiment from analysts.
• Despite the upgrade, the company reported lower quarterly earnings with earnings per share (EPS) of $0.31, missing the consensus estimate of $0.52.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) was upgraded by equities researchers at Weiss Ratings from a "sell (d+)" rating to a "hold (c-)" rating in a report released on Friday,Weiss Ratings reports.

Several other analysts also recently issued reports on SQM. BMO Capital Markets upped their price target on shares of Sociedad Quimica y Minera from $45.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Jefferies Financial Group reissued a "hold" rating and set a $50.00 price objective (down from $53.00) on shares of Sociedad Quimica y Minera in a research note on Monday, October 6th. Zacks Research raised shares of Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Bank of America raised their price objective on shares of Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an "underperform" rating in a research note on Tuesday, August 26th. Finally, Rothschild & Co Redburn assumed coverage on shares of Sociedad Quimica y Minera in a research note on Friday. They set a "neutral" rating and a $54.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $46.81.

Sociedad Quimica y Minera Stock Up 2.3%

Shares of NYSE SQM opened at $45.53 on Friday. 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 has a 52 week low of $29.36 and a 52 week high of $47.51. The firm has a 50-day moving average price of $44.09 and a 200 day moving average price of $38.64. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 27.27 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last announced its quarterly earnings data 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). Sociedad Quimica y Minera had a net margin of 11.29% and a return on equity of 9.09%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.75 EPS. The firm's revenue for the quarter was down 19.4% on a year-over-year basis. Equities research analysts anticipate that Sociedad Quimica y Minera will post -1.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of institutional investors have recently modified their holdings of SQM. Kingstone Capital Partners Texas LLC acquired a new position in shares of Sociedad Quimica y Minera in the second quarter valued at approximately $67,759,000. Nuveen LLC acquired a new position in shares of Sociedad Quimica y Minera in the first quarter valued at approximately $39,154,000. RWC Asset Advisors US LLC acquired a new position in shares of Sociedad Quimica y Minera in the first quarter valued at approximately $37,170,000. Itau Unibanco Holding S.A. acquired a new position in shares of Sociedad Quimica y Minera in the second quarter valued at approximately $32,432,000. Finally, Lord Abbett & CO. LLC acquired a new position in Sociedad Quimica y Minera during the first quarter worth approximately $19,666,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Quimica y Minera Company Profile

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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