Sociedad Química y Minera de Chile (NYSE:SQM) Downgraded by Zacks Investment Research to Sell

Sociedad Química y Minera de Chile (NYSE:SQM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “

Other equities research analysts also recently issued research reports about the company. Scotiabank boosted their target price on Sociedad Química y Minera de Chile from $20.00 to $25.00 and gave the stock a “sector underperform” rating in a research report on Friday, August 21st. Deutsche Bank Aktiengesellschaft boosted their target price on Sociedad Química y Minera de Chile from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, October 15th. HSBC upgraded Sociedad Química y Minera de Chile from a “hold” rating to a “buy” rating in a report on Wednesday, October 21st. Finally, Citigroup upped their price objective on Sociedad Química y Minera de Chile from $29.00 to $35.00 and gave the company a “neutral” rating in a report on Friday, August 21st. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $29.42.

NYSE SQM traded up $0.60 during trading on Wednesday, hitting $45.99. The company’s stock had a trading volume of 38,658 shares, compared to its average volume of 966,807. Sociedad Química y Minera de Chile has a 52 week low of $15.20 and a 52 week high of $45.69. The firm has a market cap of $11.95 billion, a P/E ratio of 54.75, a price-to-earnings-growth ratio of 2.28 and a beta of 1.01. The firm has a 50 day moving average price of $36.98 and a 200 day moving average price of $30.64. The company has a quick ratio of 2.59, a current ratio of 4.28 and a debt-to-equity ratio of 0.81.

Sociedad Química y Minera de Chile (NYSE:SQM) last announced its quarterly earnings results on Wednesday, August 19th. The basic materials company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The company had revenue of $392.00 million during the quarter, compared to analyst estimates of $446.67 million. Sociedad Química y Minera de Chile had a net margin of 12.43% and a return on equity of 10.50%. Sociedad Química y Minera de Chile’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. On average, equities analysts expect that Sociedad Química y Minera de Chile will post 0.9 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQM. Captrust Financial Advisors bought a new stake in shares of Sociedad Química y Minera de Chile in the second quarter worth about $67,000. Truist Financial Corp acquired a new position in shares of Sociedad Química y Minera de Chile during the third quarter worth about $201,000. JustInvest LLC acquired a new position in shares of Sociedad Química y Minera de Chile during the third quarter worth about $203,000. Campbell & CO Investment Adviser LLC acquired a new position in Sociedad Química y Minera de Chile during the second quarter valued at approximately $204,000. Finally, Garner Asset Management Corp acquired a new position in Sociedad Química y Minera de Chile during the third quarter valued at approximately $209,000. Institutional investors and hedge funds own 11.61% 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 and its derivatives, lithium and its 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 for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

See Also: Terms to Better Understand Call Options

Get a free copy of the Zacks research report on Sociedad Química y Minera de Chile (SQM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sociedad Química y Minera de Chile (NYSE:SQM)

Receive News & Ratings for Sociedad Química y Minera de Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sociedad Química y Minera de Chile and related companies with MarketBeat.com's FREE daily email newsletter.