Deutsche Bank Aktiengesellschaft Cuts Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $42.00

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price cut by investment analysts at Deutsche Bank Aktiengesellschaft from $48.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential downside of 7.14% from the stock’s previous close.

SQM has been the topic of a number of other reports. Scotiabank lowered their price target on shares of Sociedad Química y Minera de Chile from $80.00 to $70.00 and set a “sector outperform” rating on the stock in a report on Monday, March 4th. TheStreet cut shares of Sociedad Química y Minera de Chile from a “b-” rating to a “c” rating in a report on Friday, February 2nd. BMO Capital Markets lowered their price target on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. StockNews.com cut shares of Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $65.98.

Sociedad Química y Minera de Chile Trading Down 1.3 %

SQM stock traded down $0.58 during trading on Friday, hitting $45.23. The company had a trading volume of 731,429 shares, compared to its average volume of 1,425,723. The firm has a market capitalization of $12.92 billion, a P/E ratio of 6.42 and a beta of 1.07. Sociedad Química y Minera de Chile has a 52-week low of $38.50 and a 52-week high of $81.50. The company has a 50 day simple moving average of $46.87 and a 200-day simple moving average of $49.92. The company has a quick ratio of 1.74, a current ratio of 2.49 and a debt-to-equity ratio of 0.58.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.51). The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Sociedad Química y Minera de Chile had a return on equity of 37.86% and a net margin of 26.95%. During the same period in the prior year, the business earned $4.03 EPS. As a group, research analysts forecast that Sociedad Química y Minera de Chile will post 4.18 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 the business. Wetherby Asset Management Inc. grew its position in shares of Sociedad Química y Minera de Chile by 1.8% during the first quarter. Wetherby Asset Management Inc. now owns 7,123 shares of the basic materials company’s stock worth $610,000 after acquiring an additional 124 shares during the last quarter. Redwood Wealth Management Group LLC grew its position in shares of Sociedad Química y Minera de Chile by 3.2% during the third quarter. Redwood Wealth Management Group LLC now owns 5,903 shares of the basic materials company’s stock worth $352,000 after acquiring an additional 185 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Sociedad Química y Minera de Chile by 7.6% during the second quarter. Atria Wealth Solutions Inc. now owns 2,668 shares of the basic materials company’s stock worth $223,000 after acquiring an additional 188 shares during the last quarter. CWM LLC grew its position in 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 valued at $39,000 after buying an additional 226 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Sociedad Química y Minera de Chile by 14.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,930 shares of the basic materials company’s stock valued at $154,000 after buying an additional 238 shares during the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sociedad Química y Minera de Chile

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.