Sociedad Quimica y Minera de Chile (NYSE:SQM) PT Set at $29.00 by JPMorgan Chase & Co.

Sociedad Quimica y Minera de Chile (NYSE:SQM) received a $29.00 price objective from investment analysts at JPMorgan Chase & Co. in a report issued on Monday, TipRanks reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 10.10% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. Vertical Group initiated coverage on shares of Sociedad Quimica y Minera de Chile in a research report on Monday, April 22nd. They set a “sell” rating and a $23.00 price target on the stock. Morgan Stanley raised shares of Sociedad Quimica y Minera de Chile from an “underweight” rating to an “equal weight” rating in a research report on Friday, July 12th. ValuEngine cut shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BMO Capital Markets cut shares of Sociedad Quimica y Minera de Chile from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $47.00 to $31.00 in a research report on Thursday, May 23rd. Finally, Deutsche Bank set a $32.00 price target on shares of Sociedad Quimica y Minera de Chile and gave the company a “hold” rating in a research report on Tuesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.25.

Shares of SQM stock traded down $1.28 on Monday, hitting $26.34. 532,203 shares of the stock traded hands, compared to its average volume of 767,797. The company’s 50-day moving average price is $29.54. The company has a quick ratio of 2.42, a current ratio of 3.92 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $7.07 billion, a PE ratio of 15.81, a PEG ratio of 2.06 and a beta of 1.08. Sociedad Quimica y Minera de Chile has a twelve month low of $25.72 and a twelve month high of $48.80.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its quarterly earnings results on Wednesday, May 22nd. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.04). The firm had revenue of $504.20 million for the quarter, compared to analyst estimates of $487.04 million. Sociedad Quimica y Minera de Chile had a net margin of 18.06% and a return on equity of 19.01%. As a group, equities research analysts expect that Sociedad Quimica y Minera de Chile will post 1.4 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SQM. Allianz Asset Management GmbH lifted its position in Sociedad Quimica y Minera de Chile by 1,719.3% in the second quarter. Allianz Asset Management GmbH now owns 363,864 shares of the basic materials company’s stock valued at $11,320,000 after buying an additional 343,864 shares during the last quarter. Clearbridge Investments LLC lifted its position in Sociedad Quimica y Minera de Chile by 33.4% in the first quarter. Clearbridge Investments LLC now owns 994,919 shares of the basic materials company’s stock valued at $38,245,000 after buying an additional 249,333 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Sociedad Quimica y Minera de Chile by 23.6% in the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 933,512 shares of the basic materials company’s stock valued at $29,042,000 after buying an additional 178,200 shares during the last quarter. Boston Common Asset Management LLC lifted its position in Sociedad Quimica y Minera de Chile by 31.7% in the second quarter. Boston Common Asset Management LLC now owns 638,382 shares of the basic materials company’s stock valued at $19,860,000 after buying an additional 153,585 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Sociedad Quimica y Minera de Chile by 100.8% in the second quarter. Russell Investments Group Ltd. now owns 269,904 shares of the basic materials company’s stock valued at $8,451,000 after buying an additional 135,516 shares during the last quarter. 10.61% of the stock is currently owned by institutional investors.

Sociedad Quimica y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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