Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Lowered to $46.50 at The Goldman Sachs Group

Sociedad Química y Minera de Chile (NYSE:SQM) had its price objective reduced by equities researchers at The Goldman Sachs Group from $54.50 to $46.50 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 7.49% from the stock’s previous close.

SQM has been the topic of several other reports. Scotiabank lowered their price target 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. TheStreet downgraded Sociedad Química y Minera de Chile from a “b-” rating to a “c” rating in a research note on Friday, February 2nd. StockNews.com cut Sociedad Química y Minera de Chile from a “hold” rating to a “sell” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, April 19th. Finally, BMO Capital Markets decreased their target price on shares of Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and an average price target of $65.18.

Sociedad Química y Minera de Chile Stock Down 3.4 %

NYSE:SQM opened at $43.26 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.49 and a quick ratio of 1.74. The firm’s 50-day moving average price is $47.11 and its 200-day moving average price is $49.64. The company has a market capitalization of $12.36 billion, a PE ratio of 6.14 and a beta of 1.07. Sociedad Química y Minera de Chile has a 1-year low of $38.50 and a 1-year high of $81.50.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its earnings results on Wednesday, February 28th. The basic materials company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business posted $4.03 earnings per share. On average, equities analysts predict that Sociedad Química y Minera de Chile will post 4.18 EPS 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 added to or reduced their stakes in the company. Redwood Wealth Management Group LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 3.2% in the third quarter. Redwood Wealth Management Group LLC now owns 5,903 shares of the basic materials company’s stock valued at $352,000 after purchasing an additional 185 shares in the last quarter. CWM LLC increased its position in Sociedad Química y Minera de Chile by 40.1% during the first quarter. CWM LLC now owns 790 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 226 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Sociedad Química y Minera de Chile by 25.3% in the 4th quarter. Avior Wealth Management LLC now owns 1,253 shares of the basic materials company’s stock worth $75,000 after acquiring an additional 253 shares during the last quarter. Blue Trust Inc. grew its holdings in Sociedad Química y Minera de Chile by 22.4% during the 4th quarter. Blue Trust Inc. now owns 1,414 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 259 shares during the last quarter. Finally, Toroso Investments LLC raised its position in Sociedad Química y Minera de Chile by 0.5% in the 3rd quarter. Toroso Investments LLC now owns 64,071 shares of the basic materials company’s stock worth $3,823,000 after purchasing an additional 338 shares during the period. 12.41% of the stock is owned by institutional investors.

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.