Sociedad Química y Minera de Chile (NYSE:SQM) Reaches New 12-Month Low on Disappointing Earnings

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report) reached a new 52-week low on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $31.18 and last traded at $31.30, with a volume of 1245374 shares changing hands. The stock had previously closed at $32.71.

The basic materials company reported $0.48 earnings per share (EPS) 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 analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted ($3.04) earnings per share. The business's quarterly revenue was down 4.4% compared to the same quarter last year.

Analyst Ratings Changes

Several research firms have issued reports on SQM. BMO Capital Markets decreased their price target on shares of Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an "outperform" rating on the stock in a research report on Thursday. Scotiabank decreased their price target on shares of Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a "sector outperform" rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Sociedad Química y Minera de Chile currently has a consensus rating of "Hold" and an average price target of $41.86.

Institutional Trading of Sociedad Química y Minera de Chile

Institutional investors have recently made changes to their positions in the business. Brooklyn Investment Group boosted its position in shares of Sociedad Química y Minera de Chile by 61,700.0% during the 1st quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 617 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter valued at about $34,000. Kestra Investment Management LLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter valued at about $39,000. Jones Financial Companies Lllp boosted its position in shares of Sociedad Química y Minera de Chile by 803.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 956 shares in the last quarter. Finally, Grove Bank & Trust acquired a new stake in shares of Sociedad Química y Minera de Chile during the 1st quarter valued at about $46,000. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Performance

The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94. The firm's 50-day moving average price is $35.08 and its two-hundred day moving average price is $37.88. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of -27.41, a price-to-earnings-growth ratio of 5.00 and a beta of 1.11.

Sociedad Química y Minera de Chile 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.