Sociedad Quimica y Minera de Chile (NYSE:SQM) Sets New 52-Week Low at $25.70

Sociedad Quimica y Minera de Chile (NYSE:SQM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $25.70 and last traded at $25.71, with a volume of 8251 shares trading hands. The stock had previously closed at $26.34.

Several research firms have recently issued reports on SQM. BMO Capital Markets lowered Sociedad Quimica y Minera de Chile from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $47.00 to $31.00 in a research note on Thursday, May 23rd. Vertical Group started coverage on Sociedad Quimica y Minera de Chile in a research note on Monday, April 22nd. They set a “sell” rating and a $23.00 price target for the company. Morgan Stanley raised Sociedad Quimica y Minera de Chile from an “underweight” rating to an “equal weight” rating in a research note on Friday, July 12th. ValuEngine lowered Sociedad Quimica y Minera de Chile from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. set a $29.00 price target on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $36.25.

The company has a debt-to-equity ratio of 0.63, a current ratio of 3.92 and a quick ratio of 2.42. The firm has a market capitalization of $6.95 billion, a PE ratio of 15.61, a P/E/G ratio of 1.96 and a beta of 1.08. The firm has a 50 day moving average of $29.45.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQM. Jefferies Group LLC acquired a new stake in Sociedad Quimica y Minera de Chile during the 2nd quarter worth about $672,000. Morgan Stanley lifted its position in Sociedad Quimica y Minera de Chile by 19.6% during the 2nd quarter. Morgan Stanley now owns 762,064 shares of the basic materials company’s stock worth $23,707,000 after acquiring an additional 124,876 shares during the period. Brookfield Asset Management Inc. lifted its position in Sociedad Quimica y Minera de Chile by 96.0% during the 2nd quarter. Brookfield Asset Management Inc. now owns 29,200 shares of the basic materials company’s stock worth $908,000 after acquiring an additional 14,300 shares during the period. Assetmark Inc. lifted its position in Sociedad Quimica y Minera de Chile by 70.5% during the 2nd quarter. Assetmark Inc. now owns 3,242 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 1,341 shares during the period. Finally, Invesco Ltd. lifted its position in Sociedad Quimica y Minera de Chile by 22.8% during the 2nd quarter. Invesco Ltd. now owns 191,188 shares of the basic materials company’s stock worth $5,948,000 after acquiring an additional 35,531 shares during the period. Institutional investors own 10.61% of the company’s stock.

About Sociedad Quimica y Minera de Chile (NYSE:SQM)

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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