Peregrine Investment Management Inc. Has $4.87 Million Stock Position in Sociedad Quimica y Minera S.A. $SQM

Peregrine Investment Management Inc. trimmed its stake in shares of Sociedad Quimica y Minera S.A. (NYSE:SQM) by 12.1% during the second quarter, Holdings Channel reports. The firm owned 138,180 shares of the basic materials company’s stock after selling 18,960 shares during the period. Sociedad Quimica y Minera comprises 3.1% of Peregrine Investment Management Inc.’s holdings, making the stock its 16th biggest holding. Peregrine Investment Management Inc.’s holdings in Sociedad Quimica y Minera were worth $4,874,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group boosted its holdings in Sociedad Quimica y Minera by 61,700.0% during the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 617 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth approximately $34,000. Farther Finance Advisors LLC boosted its holdings in shares of Sociedad Quimica y Minera by 153.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 586 shares in the last quarter. Grove Bank & Trust acquired a new position in shares of Sociedad Quimica y Minera in the 1st quarter worth approximately $46,000. Finally, IFP Advisors Inc boosted its holdings in shares of Sociedad Quimica y Minera by 728.0% in the 1st quarter. IFP Advisors Inc now owns 1,242 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 1,092 shares in the last quarter. 12.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SQM. BMO Capital Markets boosted their target price on Sociedad Quimica y Minera from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. JPMorgan Chase & Co. boosted their target price on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Monday, July 28th. Bank of America boosted their target price on Sociedad Quimica y Minera from $36.50 to $43.50 and gave the stock an “underperform” rating in a report on Tuesday, August 26th. Scotiabank reduced their target price on Sociedad Quimica y Minera from $50.00 to $45.00 and set a “sector outperform” rating on the stock in a report on Friday, May 30th. Finally, Itau BBA Securities initiated coverage on Sociedad Quimica y Minera in a report on Thursday, September 4th. They issued an “outperform” rating and a $55.00 target price on the stock. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sociedad Quimica y Minera currently has an average rating of “Hold” and an average target price of $45.08.

Sociedad Quimica y Minera Stock Performance

SQM stock opened at $43.22 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.92 and a quick ratio of 1.93. The company has a 50 day moving average price of $42.39 and a 200 day moving average price of $38.21. Sociedad Quimica y Minera S.A. has a fifty-two week low of $29.36 and a fifty-two week high of $47.51. The stock has a market capitalization of $12.35 billion, a PE ratio of 25.88 and a beta of 1.07.

Sociedad Quimica y Minera (NYSE:SQM) last posted its quarterly earnings data on Wednesday, August 20th. The basic materials company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.21). Sociedad Quimica y Minera had a return on equity of 9.09% and a net margin of 11.29%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue for the quarter was down 19.4% on a year-over-year basis. Analysts forecast that Sociedad Quimica y Minera S.A. will post -1.31 EPS for the current year.

About Sociedad Quimica y Minera

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.