Sociedad Quimica y Minera's (SQM) Hold Rating Reaffirmed at Jefferies Financial Group

Key Points

• Jefferies Financial Group has reaffirmed a "hold" rating for Sociedad Quimica y Minera (SQM), now with a target price of $50.00, down from $53.00, indicating a potential upside of 16.10% from its previous close.
• The company recently reported $0.31 earnings per share, missing the consensus estimate of $0.52, with revenues down 19.4% year-over-year at $1.04 billion.
• Current analyst ratings reflect three "buy," four "hold," and two "sell" ratings, resulting in a consensus hold rating and an average price target of $45.79.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report)'s stock had its "hold" rating reaffirmed by stock analysts at Jefferies Financial Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $50.00 target price on the basic materials company's stock, down from their previous target price of $53.00. Jefferies Financial Group's price target suggests a potential upside of 16.10% from the stock's previous close.

SQM has been the topic of a number of other research reports. Zacks Research upgraded Sociedad Quimica y Minera from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of Sociedad Quimica y Minera in a research report on Saturday, September 27th. JPMorgan Chase & Co. increased their price objective on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. BMO Capital Markets increased their price objective on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Itau BBA Securities began coverage on Sociedad Quimica y Minera in a research report on Thursday, September 4th. They set an "outperform" rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $45.79.

Sociedad Quimica y Minera Price Performance

Shares of NYSE SQM opened at $43.07 on Monday. The stock's 50-day moving average is $43.08 and its two-hundred day moving average is $38.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. Sociedad Quimica y Minera has a 1-year low of $29.36 and a 1-year high of $47.51. The company has a market cap of $12.30 billion, a price-to-earnings ratio of 25.79 and a beta of 1.08.

Sociedad Quimica y Minera (NYSE:SQM - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter last year, the company earned $0.75 EPS. Sociedad Quimica y Minera's revenue for the quarter was down 19.4% compared to the same quarter last year. Analysts forecast that Sociedad Quimica y Minera will post -1.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SQM. Osaic Holdings Inc. lifted its stake in shares of Sociedad Quimica y Minera by 2.9% in the second quarter. Osaic Holdings Inc. now owns 45,602 shares of the basic materials company's stock worth $1,608,000 after acquiring an additional 1,294 shares in the last quarter. Marex Group plc acquired a new position in shares of Sociedad Quimica y Minera in the second quarter worth about $410,000. CANADA LIFE ASSURANCE Co lifted its stake in shares of Sociedad Quimica y Minera by 26.2% in the second quarter. CANADA LIFE ASSURANCE Co now owns 74,469 shares of the basic materials company's stock worth $2,625,000 after acquiring an additional 15,447 shares in the last quarter. Man Group plc lifted its stake in shares of Sociedad Quimica y Minera by 41.9% in the second quarter. Man Group plc now owns 8,800 shares of the basic materials company's stock worth $310,000 after acquiring an additional 2,600 shares in the last quarter. Finally, LMR Partners LLP acquired a new position in shares of Sociedad Quimica y Minera in the second quarter worth about $1,622,000. 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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