Sociedad Química y Minera de Chile (NYSE:SQM) Trading Down 3.1% – Should You Sell?

Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s stock price was down 3.1% during trading on Monday . The company traded as low as $40.54 and last traded at $41.13. Approximately 221,262 shares were traded during trading, a decline of 81% from the average daily volume of 1,192,373 shares. The stock had previously closed at $42.43.

Analysts Set New Price Targets

A number of research analysts have commented on SQM shares. Bank of America reduced their target price on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a report on Wednesday, August 21st. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $44.00 in a report on Friday. Jefferies Financial Group cut their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Finally, Berenberg Bank started coverage on Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They set a “hold” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Sociedad Química y Minera de Chile currently has an average rating of “Hold” and an average target price of $48.69.

Sociedad Química y Minera de Chile Trading Down 4.5 %

The business has a 50-day moving average of $38.24 and a 200-day moving average of $42.33. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 30.53 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $2.03 earnings per share. As a group, research analysts forecast that Sociedad Química y Minera de Chile S.A. will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Large investors have recently bought and sold shares of the business. CWM LLC boosted its position in shares of Sociedad Química y Minera de Chile by 40.1% in the 1st quarter. CWM LLC now owns 790 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 226 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sociedad Química y Minera de Chile by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock valued at $3,876,000 after purchasing an additional 275 shares during the period. Greenleaf Trust raised its stake in shares of Sociedad Química y Minera de Chile by 3.7% in the 1st quarter. Greenleaf Trust now owns 8,216 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 295 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sociedad Química y Minera de Chile by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 401 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Sociedad Química y Minera de Chile by 9.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,482 shares of the basic materials company’s stock valued at $223,000 after purchasing an additional 464 shares during the period. 12.41% of the stock is currently owned by institutional investors.

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.