Sociedad Quimica y Minera (NYSE:SQM) Given New $98.00 Price Target at Deutsche Bank Aktiengesellschaft

Sociedad Quimica y Minera (NYSE:SQM) had its target price decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $105.00 to $98.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 34.38% from the company’s current price.

A number of other analysts also recently issued reports on SQM. Bank of America increased their price target on shares of Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a report on Wednesday, March 25th. Wall Street Zen raised shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a report on Sunday. JPMorgan Chase & Co. lowered shares of Sociedad Quimica y Minera from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $94.00 to $100.00 in a research note on Tuesday, June 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, June 24th. Finally, Zacks Research lowered Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $76.08.

Sociedad Quimica y Minera Stock Performance

SQM stock traded up $0.99 during trading on Tuesday, hitting $72.93. 252,987 shares of the company traded hands, compared to its average volume of 1,312,539. Sociedad Quimica y Minera has a 1 year low of $35.67 and a 1 year high of $98.00. The company has a market cap of $20.83 billion, a PE ratio of 25.53, a P/E/G ratio of 0.20 and a beta of 0.97. The stock’s 50-day simple moving average is $80.18 and its 200 day simple moving average is $78.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.76 and a quick ratio of 2.01.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SQM. Signaturefd LLC boosted its holdings in Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock worth $45,000 after buying an additional 177 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Sociedad Quimica y Minera by 5.9% in the first quarter. Sequoia Financial Advisors LLC now owns 3,767 shares of the basic materials company’s stock worth $305,000 after acquiring an additional 210 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Sociedad Quimica y Minera by 43.2% during the first quarter. Parallel Advisors LLC now owns 822 shares of the basic materials company’s stock worth $67,000 after purchasing an additional 248 shares in the last quarter. GAMMA Investing LLC increased 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. Finally, PNC Financial Services Group Inc. raised its stake in Sociedad Quimica y Minera by 1.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,363 shares of the basic materials company’s stock valued at $988,000 after purchasing an additional 257 shares during the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

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.