JPMorgan Chase & Co. Issues Pessimistic Forecast for Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price

Sociedad Química y Minera de Chile (NYSE:SQM) had its price objective reduced by analysts at JPMorgan Chase & Co. from $44.00 to $39.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.12% from the stock’s previous close.

A number of other equities analysts have also weighed in on SQM. Scotiabank dropped their target price on shares of Sociedad Química y Minera de Chile from $50.00 to $45.00 and set a “sector outperform” rating for the company in a research report on Friday, May 30th. BMO Capital Markets dropped their price objective on shares of Sociedad Química y Minera de Chile from $55.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $41.14.

Sociedad Química y Minera de Chile Price Performance

Shares of Sociedad Química y Minera de Chile stock opened at $32.74 on Thursday. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of -29.50, a PEG ratio of 5.00 and a beta of 1.04. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. The stock’s 50-day simple moving average is $33.91 and its 200-day simple moving average is $37.47. Sociedad Química y Minera de Chile has a 52 week low of $29.36 and a 52 week high of $45.89.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its earnings results on Wednesday, May 28th. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.15). Sociedad Química y Minera de Chile had a negative net margin of 6.74% and a positive return on equity of 16.12%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted ($3.04) EPS. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, analysts expect that Sociedad Química y Minera de Chile will post -1.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

A number of institutional investors and hedge funds have recently made changes to their positions in SQM. Brooklyn Investment Group grew its position in Sociedad Química y Minera de Chile by 61,700.0% in the first quarter. Brooklyn Investment Group now owns 618 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 617 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at approximately $34,000. Kestra Investment Management LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at approximately $39,000. Jones Financial Companies Lllp boosted its holdings in shares of Sociedad Química y Minera de Chile by 803.4% in the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 956 shares during the period. Finally, Grove Bank & Trust bought a new position in shares of Sociedad Química y Minera de Chile during the 1st quarter valued at approximately $46,000. 12.41% of the stock is 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.