Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Sees Large Drop in Short Interest

Sociedad Química y Minera de Chile S.A. (NYSE:SQMGet Rating) saw a large drop in short interest in April. As of April 30th, there was short interest totalling 1,080,000 shares, a drop of 41.0% from the April 15th total of 1,830,000 shares. Based on an average daily volume of 1,750,000 shares, the short-interest ratio is presently 0.6 days.

NYSE SQM traded up $7.19 during trading hours on Friday, hitting $83.61. The company had a trading volume of 1,688,376 shares, compared to its average volume of 1,711,563. Sociedad Química y Minera de Chile has a 52 week low of $40.53 and a 52 week high of $90.87. The firm has a 50 day simple moving average of $79.51 and a 200 day simple moving average of $65.78. The company has a debt-to-equity ratio of 0.80, a quick ratio of 3.43 and a current ratio of 4.62. The firm has a market capitalization of $22.01 billion, a price-to-earnings ratio of 40.39, a PEG ratio of 0.30 and a beta of 0.77.

Sociedad Química y Minera de Chile (NYSE:SQMGet Rating) last issued its earnings results on Wednesday, March 2nd. The basic materials company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.97 by $0.16. Sociedad Química y Minera de Chile had a return on equity of 19.57% and a net margin of 20.45%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.01 billion. On average, research analysts forecast that Sociedad Química y Minera de Chile will post 6.11 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Friday, April 29th were given a dividend of $0.063 per share. The ex-dividend date was Thursday, April 28th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.30%. Sociedad Química y Minera de Chile’s dividend payout ratio (DPR) is presently 12.08%.

Several institutional investors and hedge funds have recently modified their holdings of SQM. JustInvest LLC lifted its position in Sociedad Química y Minera de Chile by 3.9% in the 4th quarter. JustInvest LLC now owns 4,819 shares of the basic materials company’s stock worth $243,000 after buying an additional 182 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Sociedad Química y Minera de Chile by 1.2% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 17,000 shares of the basic materials company’s stock worth $857,000 after buying an additional 200 shares during the last quarter. Profund Advisors LLC lifted its position in Sociedad Química y Minera de Chile by 2.4% in the 1st quarter. Profund Advisors LLC now owns 9,958 shares of the basic materials company’s stock worth $852,000 after buying an additional 233 shares during the last quarter. American Century Companies Inc. lifted its position in Sociedad Química y Minera de Chile by 4.5% in the 3rd quarter. American Century Companies Inc. now owns 6,880 shares of the basic materials company’s stock worth $370,000 after buying an additional 294 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in Sociedad Química y Minera de Chile in the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 19.99% of the company’s stock.

Several equities analysts have weighed in on the company. Morgan Stanley cut Sociedad Química y Minera de Chile from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $58.00 to $70.00 in a research note on Thursday, March 31st. Jefferies Financial Group raised their price objective on Sociedad Química y Minera de Chile from $60.00 to $65.00 in a research note on Thursday, February 10th. Loop Capital assumed coverage on Sociedad Química y Minera de Chile in a research note on Monday, January 24th. They set a “buy” rating and a $102.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Sociedad Química y Minera de Chile from $91.00 to $98.00 and gave the company a “buy” rating in a research note on Tuesday, April 5th. Finally, Scotiabank upgraded Sociedad Química y Minera de Chile from an “underperform” rating to a “sector perform” rating in a research note on Monday, March 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.56.

About Sociedad Química y Minera de Chile (Get Rating)

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.

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