Deutsche Bank Aktiengesellschaft Lowers 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 lowered by Deutsche Bank Aktiengesellschaft from $48.00 to $42.00 in a research report sent to investors on Friday, Benzinga reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Several other equities analysts have also commented on the company. Jefferies Financial Group raised Sociedad Química y Minera de Chile from a hold rating to a buy rating and increased their target price for the company from $52.00 to $62.80 in a report on Monday, April 8th. BMO Capital Markets dropped their price objective on 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. Scotiabank dropped their price objective on 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. JPMorgan Chase & Co. dropped their price objective on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating on the stock in a report on Tuesday, February 6th. Finally, StockNews.com lowered Sociedad Química y Minera de Chile from a hold rating to a sell rating in a report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $65.98.

Sociedad Química y Minera de Chile Stock Performance

NYSE:SQM opened at $44.03 on Friday. The firm has a market capitalization of $12.58 billion, a PE ratio of 6.25 and a beta of 1.07. The business’s fifty day moving average price is $47.01 and its 200 day moving average price is $49.71. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.74. Sociedad Química y Minera de Chile has a 12 month low of $38.50 and a 12 month high of $81.50.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its 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 business 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 net margin of 26.95% and a return on equity of 37.86%. During the same period last year, the company earned $4.03 EPS. On average, sell-side analysts anticipate 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 and other institutional investors have recently made changes to their positions in the stock. abrdn plc grew its holdings in shares of Sociedad Química y Minera de Chile by 4.7% during the third quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock worth $157,712,000 after buying an additional 119,695 shares during the last quarter. 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 worth $120,387,000 after buying an additional 172,908 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 37.2% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,747,264 shares of the basic materials company’s stock worth $104,259,000 after buying an additional 474,000 shares during the last quarter. CI Investments Inc. grew its holdings in shares of Sociedad Química y Minera de Chile by 5.3% during the third quarter. CI Investments Inc. now owns 1,523,519 shares of the basic materials company’s stock worth $90,908,000 after buying an additional 76,054 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Sociedad Química y Minera de Chile by 127.3% during the third quarter. Van ECK Associates Corp now owns 1,070,851 shares of the basic materials company’s stock worth $63,898,000 after buying an additional 599,728 shares during the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

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.