Sociedad Quimica y Minera de Chile (NYSE:SQM) Trading Down 5.2%

Sociedad Quimica y Minera de Chile (NYSE:SQM) fell 5.2% during trading on Friday . The stock traded as low as $26.41 and last traded at $26.65, 799,075 shares were traded during trading. An increase of 6% from the average session volume of 754,689 shares. The stock had previously closed at $28.10.

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Several brokerages have commented on SQM. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group set a $26.00 target price on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research note on Friday, August 23rd. Citigroup reissued a “neutral” rating and set a $25.00 target price (down previously from $33.00) on shares of Sociedad Quimica y Minera de Chile in a research note on Monday, August 26th. JPMorgan Chase & Co. downgraded Sociedad Quimica y Minera de Chile from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $29.00 to $23.00 in a research note on Thursday, August 22nd. Finally, BMO Capital Markets set a $24.00 target price on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $29.50.

The company has a 50 day moving average price of $27.65 and a 200-day moving average price of $29.45. The company has a quick ratio of 1.83, a current ratio of 2.80 and a debt-to-equity ratio of 0.63. The company has a market cap of $7.29 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 2.54 and a beta of 1.18.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.09). Sociedad Quimica y Minera de Chile had a net margin of 16.27% and a return on equity of 16.04%. The firm had revenue of $494.10 million during the quarter, compared to analyst estimates of $525.73 million. During the same period in the prior year, the company earned $0.51 EPS. The business’s quarterly revenue was down 22.6% compared to the same quarter last year. On average, analysts forecast that Sociedad Quimica y Minera de Chile will post 1.11 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in SQM. First Trust Advisors LP increased its stake in shares of Sociedad Quimica y Minera de Chile by 3.8% in the first quarter. First Trust Advisors LP now owns 38,876 shares of the basic materials company’s stock valued at $1,494,000 after buying an additional 1,420 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of Sociedad Quimica y Minera de Chile by 156.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,285 shares of the basic materials company’s stock valued at $40,000 after buying an additional 784 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Sociedad Quimica y Minera de Chile in the second quarter valued at approximately $403,000. Sarasin & Partners LLP increased its stake in shares of Sociedad Quimica y Minera de Chile by 42.9% in the second quarter. Sarasin & Partners LLP now owns 100,000 shares of the basic materials company’s stock valued at $3,111,000 after buying an additional 30,000 shares during the period. Finally, Arden Trust Co acquired a new stake in Sociedad Quimica y Minera de Chile during the 2nd quarter valued at approximately $350,000. 10.02% of the stock is owned by institutional investors.

Sociedad Quimica y Minera de Chile Company Profile (NYSE:SQM)

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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