Sociedad Quimica y Minera (NYSE:SQM) Price Target Raised to $82.00

Sociedad Quimica y Minera (NYSE:SQM) had its price objective increased by analysts at The Goldman Sachs Group from $64.00 to $82.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 15.75% from the stock’s current price.

SQM has been the subject of several other research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research note on Wednesday, June 24th. CLSA upgraded Sociedad Quimica y Minera to an “outperform” rating in a research report on Tuesday, June 2nd. Zacks Research cut Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. Scotiabank raised their price objective on Sociedad Quimica y Minera from $100.00 to $105.00 and gave the stock a “sector outperform” rating in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. lowered shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $94.00 to $100.00 in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.58.

Sociedad Quimica y Minera Trading Down 2.9%

Shares of SQM stock traded down $2.11 on Wednesday, hitting $70.84. 519,933 shares of the stock traded hands, compared to its average volume of 1,311,194. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.01 and a current ratio of 2.76. Sociedad Quimica y Minera has a twelve month low of $35.67 and a twelve month high of $98.00. The firm’s 50-day moving average price is $79.79 and its two-hundred day moving average price is $78.85. The stock has a market capitalization of $20.24 billion, a PE ratio of 24.81, a PEG ratio of 0.20 and a beta of 0.97.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Saturday, May 16th. The basic materials company reported $1.28 earnings per share (EPS) for the quarter. Sociedad Quimica y Minera had a net margin of 15.38% and a return on equity of 11.99%. The firm had revenue of $1.76 billion during the quarter. As a group, analysts anticipate that Sociedad Quimica y Minera will post 7.25 EPS for the current year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Several institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in Sociedad Quimica y Minera in the 4th quarter valued at about $29,000. GAMMA Investing LLC lifted its position in shares of Sociedad Quimica y Minera by 138.4% during the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 256 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Sociedad Quimica y Minera by 37.0% in the fourth quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 177 shares during the period. Parallel Advisors LLC grew its holdings in shares of Sociedad Quimica y Minera by 43.2% in the first quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 248 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Sociedad Quimica y Minera by 59.5% in the first quarter. EverSource Wealth Advisors LLC now owns 839 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.