Sociedad Química y Minera de Chile (NYSE:SQM) Hits New 52-Week Low on Disappointing Earnings

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report) shares hit 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 the consensus estimate of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a positive return on equity of 16.12% and a negative net margin of 6.74%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business earned ($3.04) earnings per share. The firm's revenue for the quarter was down 4.4% on a year-over-year basis.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

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

Sociedad Química y Minera de Chile Price Performance

The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. The business's fifty day moving average is $35.08 and its 200-day moving average is $37.88. The firm has a market cap of $8.58 billion, a PE ratio of -27.05, a P/E/G 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.