FY2024 Earnings Forecast for SQM Issued By Scotiabank

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) – Equities researchers at Scotiabank cut their FY2024 earnings estimates for Sociedad Química y Minera de Chile in a research note issued to investors on Monday, November 25th. Scotiabank analyst B. Isaacson now expects that the basic materials company will earn ($1.37) per share for the year, down from their previous estimate of ($0.86). Scotiabank currently has a “Sector Outperform” rating and a $50.00 price target on the stock. The consensus estimate for Sociedad Química y Minera de Chile’s current full-year earnings is ($1.12) per share. Scotiabank also issued estimates for Sociedad Química y Minera de Chile’s FY2025 earnings at $3.92 EPS.

Other equities research analysts also recently issued research reports about the company. Bank of America lowered their price target on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 21st. The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Jefferies Financial Group cut their price objective on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $44.00 in a research report on Friday, October 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and an average price target of $45.56.

Sociedad Química y Minera de Chile Price Performance

Shares of NYSE:SQM opened at $38.56 on Thursday. Sociedad Química y Minera de Chile has a one year low of $32.24 and a one year high of $64.62. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. The firm has a market capitalization of $11.01 billion, a price-to-earnings ratio of -34.77 and a beta of 1.03. The company’s fifty day moving average price is $39.64 and its 200-day moving average price is $40.45.

Institutional Trading of Sociedad Química y Minera de Chile

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sociedad Química y Minera de Chile by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after buying an additional 275 shares during the period. MFA Wealth Advisors LLC increased its position in shares of Sociedad Química y Minera de Chile by 4.7% during the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after buying an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Sociedad Química y Minera de Chile by 3.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock worth $531,000 after buying an additional 401 shares in the last quarter. Saturna Capital Corp lifted its holdings in Sociedad Química y Minera de Chile by 0.8% in the third quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock worth $2,059,000 after buying an additional 407 shares during the period. Finally, Signaturefd LLC boosted its position in Sociedad Química y Minera de Chile by 21.3% during the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 439 shares in the last quarter. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile 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.