Sociedad Quimica y Minera de Chile (SQM) Given a $32.00 Price Target by Deutsche Bank Analysts

Sociedad Quimica y Minera de Chile (NYSE:SQM) has been assigned a $32.00 price target by Deutsche Bank in a research report issued on Tuesday, The Fly reports. The brokerage currently has a “hold” rating on the basic materials company’s stock. Deutsche Bank’s price objective would indicate a potential upside of 9.29% from the stock’s previous close.

Several other analysts have also recently issued reports on SQM. ValuEngine cut Sociedad Quimica y Minera de Chile from a “hold” rating to a “sell” rating in a research report on Saturday, May 18th. BMO Capital Markets lowered Sociedad Quimica y Minera de Chile from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $47.00 to $31.00 in a report on Thursday, May 23rd. Morgan Stanley reiterated an “underweight” rating and set a $35.00 price objective (down previously from $44.00) on shares of Sociedad Quimica y Minera de Chile in a report on Friday, April 12th. TheStreet lowered Sociedad Quimica y Minera de Chile from a “b-” rating to a “c” rating in a report on Tuesday, March 19th. Finally, Zacks Investment Research lowered Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a report on Wednesday, February 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Sociedad Quimica y Minera de Chile currently has an average rating of “Hold” and an average target price of $38.00.

Shares of NYSE SQM opened at $29.28 on Tuesday. The company has a current ratio of 4.32, a quick ratio of 2.67 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.28 and a beta of 1.02. Sociedad Quimica y Minera de Chile has a 12-month low of $30.12 and a 12-month high of $53.68.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its earnings results on Wednesday, May 22nd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.04). The company had revenue of $504.20 million for the quarter, compared to the consensus estimate 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 1.47 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of SQM. Vanguard Group Inc. grew its holdings in Sociedad Quimica y Minera de Chile by 4.6% during the third quarter. Vanguard Group Inc. now owns 1,213,590 shares of the basic materials company’s stock worth $55,485,000 after buying an additional 52,943 shares in the last quarter. Bank of Montreal Can grew its holdings in Sociedad Quimica y Minera de Chile by 5.7% during the fourth quarter. Bank of Montreal Can now owns 232,254 shares of the basic materials company’s stock worth $8,895,000 after buying an additional 12,507 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Sociedad Quimica y Minera de Chile in the 4th quarter valued at $1,122,000. Oppenheimer Asset Management Inc. bought a new position in Sociedad Quimica y Minera de Chile in the 4th quarter valued at $150,000. Finally, Advisors Asset Management Inc. grew its stake in Sociedad Quimica y Minera de Chile by 8.0% in the 4th quarter. Advisors Asset Management Inc. now owns 45,988 shares of the basic materials company’s stock valued at $1,761,000 after purchasing an additional 3,405 shares during the period. Hedge funds and other institutional investors own 10.52% of the company’s stock.

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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