Sociedad Quimica y Minera (NYSE:SQM) Reaches New 1-Year High – Still a Buy?

Sociedad Quimica y Minera S.A. (NYSE:SQM)’s share price hit a new 52-week high on Monday . The stock traded as high as $50.79 and last traded at $51.8370, with a volume of 28520 shares. The stock had previously closed at $48.83.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of 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. raised their price target on Sociedad Quimica y Minera from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, July 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $50.00 price objective (down previously from $53.00) on shares of Sociedad Quimica y Minera in a research report on Monday, October 6th. Bank of America increased 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. Finally, Weiss Ratings downgraded shares of Sociedad Quimica y Minera from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $46.81.

Sociedad Quimica y Minera Trading Up 2.1%

The business’s 50 day simple moving average is $44.62 and its 200-day simple moving average is $39.82. 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 stock has a market capitalization of $15.08 billion, a P/E ratio of 31.61 and a beta of 1.14.

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

Hedge Funds Weigh In On Sociedad Quimica y Minera

Institutional investors have recently modified their holdings of the stock. Manning & Napier Advisors LLC raised its position in shares of Sociedad Quimica y Minera by 6.3% in the 3rd quarter. Manning & Napier Advisors LLC now owns 3,168,322 shares of the basic materials company’s stock valued at $140,040,000 after acquiring an additional 187,767 shares during the period. Kingstone Capital Partners Texas LLC bought a new stake in Sociedad Quimica y Minera in the second quarter valued at approximately $67,759,000. Kopernik Global Investors LLC raised its holdings in Sociedad Quimica y Minera by 20.9% in the second quarter. Kopernik Global Investors LLC now owns 1,842,113 shares of the basic materials company’s stock worth $64,971,000 after purchasing an additional 318,445 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Sociedad Quimica y Minera by 5.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,460,104 shares of the basic materials company’s stock worth $51,498,000 after purchasing an additional 76,378 shares during the period. Finally, RWC Asset Advisors US LLC boosted its position in shares of Sociedad Quimica y Minera by 112.4% during the third quarter. RWC Asset Advisors US LLC now owns 1,232,662 shares of the basic materials company’s stock worth $52,980,000 after purchasing an additional 652,257 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Company Profile

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.