Sociedad Química y Minera de Chile (NYSE:SQM) Given New $39.00 Price Target at JPMorgan Chase & Co.

Sociedad Química y Minera de Chile (NYSE:SQM - Free Report) had its price target lowered by JPMorgan Chase & Co. from $44.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company's stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target on Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Scotiabank reduced their price target on Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a "sector outperform" rating for the company in a research report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.14.

Sociedad Química y Minera de Chile Stock Performance

SQM stock traded down $0.61 during trading on Thursday, reaching $32.74. The stock had a trading volume of 875,096 shares, compared to its average volume of 1,079,592. Sociedad Química y Minera de Chile has a 52 week low of $29.36 and a 52 week high of $45.89. The stock's 50 day moving average is $33.91 and its two-hundred day moving average is $37.45. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The firm has a market cap of $9.35 billion, a PE ratio of -29.50, a PEG ratio of 5.00 and a beta of 1.04.

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted ($3.04) EPS. The firm's revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that Sociedad Química y Minera de Chile will post -1.31 earnings per share for the current year.

Institutional Trading of Sociedad Química y Minera de Chile

Several institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of Sociedad Química y Minera de Chile during the first quarter worth about $7,346,000. Everstar Asset Management LLC purchased a new stake in shares of Sociedad Química y Minera de Chile during the first quarter worth about $429,000. Goldman Sachs Group Inc. grew its position in shares of Sociedad Química y Minera de Chile by 53.8% during the first quarter. Goldman Sachs Group Inc. now owns 358,646 shares of the basic materials company's stock worth $14,249,000 after purchasing an additional 125,506 shares in the last quarter. Edmond DE Rothschild Holding S.A. grew its position in shares of Sociedad Química y Minera de Chile by 37.5% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 13,212 shares of the basic materials company's stock worth $525,000 after purchasing an additional 3,600 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in shares of Sociedad Química y Minera de Chile during the first quarter worth about $3,178,000. Hedge funds and other institutional investors own 12.41% of the company's stock.

About Sociedad Química y Minera de Chile

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.