Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price Up 5.5% - Here's What Happened

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report)'s share price was up 5.5% during mid-day trading on Wednesday . The company traded as high as $32.64 and last traded at $32.51. Approximately 314,814 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 1,117,361 shares. The stock had previously closed at $30.82.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SQM shares. BMO Capital Markets lowered their target price on Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Scotiabank reduced their price objective 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 note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $41.86.

Sociedad Química y Minera de Chile Stock Performance

The firm has a 50 day moving average price of $34.20 and a 200-day moving average price of $37.64. 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 firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of -29.59, a PEG ratio of 5.00 and a beta of 1.04.

Sociedad Química y Minera de Chile (NYSE:SQM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. 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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same period in the previous year, the business posted ($3.04) EPS. The business's revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that Sociedad Química y Minera de Chile S.A. will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its stake in shares of Sociedad Química y Minera de Chile by 28.4% during the 4th quarter. Van ECK Associates Corp now owns 804,913 shares of the basic materials company's stock worth $29,267,000 after buying an additional 177,898 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sociedad Química y Minera de Chile during the fourth quarter worth about $1,240,000. Vontobel Holding Ltd. raised its position in shares of Sociedad Química y Minera de Chile by 1.1% in the fourth quarter. Vontobel Holding Ltd. now owns 40,589 shares of the basic materials company's stock valued at $1,476,000 after buying an additional 452 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Sociedad Química y Minera de Chile by 33.8% during the fourth quarter. Blue Trust Inc. now owns 3,869 shares of the basic materials company's stock valued at $141,000 after buying an additional 978 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of Sociedad Química y Minera de Chile by 22.3% during the fourth quarter. Rhumbline Advisers now owns 10,278 shares of the basic materials company's stock valued at $374,000 after buying an additional 1,875 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

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.