Sociedad Química y Minera de Chile (NYSE:SQM) Now Covered by Berenberg Bank

Investment analysts at Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile (NYSE:SQM) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set a “hold” rating and a $35.00 price target on the basic materials company’s stock. Berenberg Bank’s target price indicates a potential downside of 4.53% from the stock’s current price.

SQM has been the subject of several other research reports. BMO Capital Markets decreased their target price on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. The Goldman Sachs Group decreased their target price on Sociedad Química y Minera de Chile from $54.50 to $46.50 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Jefferies Financial Group upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating and lifted their target price for the stock from $52.00 to $62.80 in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Finally, Bank of America reduced their price objective on Sociedad Química y Minera de Chile from $48.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and a consensus target price of $57.33.

Sociedad Química y Minera de Chile Price Performance

Shares of NYSE SQM opened at $36.66 on Wednesday. Sociedad Química y Minera de Chile has a fifty-two week low of $36.16 and a fifty-two week high of $72.94. The business has a 50 day moving average price of $42.57 and a two-hundred day moving average price of $45.12. The company has a quick ratio of 1.61, a current ratio of 2.34 and a debt-to-equity ratio of 0.63. The firm has a market cap of $10.47 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 268.79 and a beta of 1.05.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings data on Thursday, May 23rd. The basic materials company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.72) by $2.52. Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.06 billion. Sell-side analysts expect that Sociedad Química y Minera de Chile will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

A number of hedge funds have recently modified their holdings of SQM. Allspring Global Investments Holdings LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 688.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,006,607 shares of the basic materials company’s stock worth $60,618,000 after acquiring an additional 878,933 shares during the last quarter. Prudential PLC acquired a new position in shares of Sociedad Química y Minera de Chile in the 4th quarter worth $30,572,000. Robeco Schweiz AG grew its holdings in shares of Sociedad Química y Minera de Chile by 23.4% during the first quarter. Robeco Schweiz AG now owns 1,407,650 shares of the basic materials company’s stock valued at $69,200,000 after buying an additional 267,005 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Sociedad Química y Minera de Chile by 41.6% during the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock valued at $36,661,000 after buying an additional 264,324 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Sociedad Química y Minera de Chile by 9.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after buying an additional 172,908 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.