Short Interest in Sociedad Quimica y Minera S.A. (NYSE:SQM) Drops By 15.0%

Sociedad Quimica y Minera S.A. (NYSE:SQM) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 1,604,369 shares, a decline of 15.0% from the December 31st total of 1,888,156 shares. Based on an average daily volume of 1,654,566 shares, the short-interest ratio is currently 1.0 days. Based on an average daily volume of 1,654,566 shares, the short-interest ratio is currently 1.0 days.

Analyst Ratings Changes

SQM has been the topic of several research analyst reports. Rothschild Redb raised Sociedad Quimica y Minera to a “hold” rating in a research report on Friday, October 24th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $63.00 target price (up from $45.00) on shares of Sociedad Quimica y Minera in a report on Thursday, December 4th. Scotiabank increased their price target on shares of Sociedad Quimica y Minera from $80.00 to $90.00 and gave the stock a “sector outperform” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sociedad Quimica y Minera from $88.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, Clarkson Capital reiterated a “neutral” rating and set a $90.00 target price on shares of Sociedad Quimica y Minera in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.79.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Sociedad Quimica y Minera during the 2nd quarter worth approximately $32,432,000. RWC Asset Management LLP raised its stake in Sociedad Quimica y Minera by 369.9% during the third quarter. RWC Asset Management LLP now owns 1,113,807 shares of the basic materials company’s stock worth $47,871,000 after purchasing an additional 876,754 shares during the period. Earnest Partners LLC increased its holdings in shares of Sociedad Quimica y Minera by 81.9% during the 3rd quarter. Earnest Partners LLC now owns 1,911,668 shares of the basic materials company’s stock worth $82,163,000 after buying an additional 860,984 shares during the last quarter. RWC Asset Advisors US LLC grew its holdings in shares of Sociedad Quimica y Minera by 112.4% during the 3rd 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 during the period. Finally, Van ECK Associates Corp grew its stake in Sociedad Quimica y Minera by 62.4% during the third quarter. Van ECK Associates Corp now owns 1,676,392 shares of the basic materials company’s stock worth $72,051,000 after buying an additional 644,129 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Quimica y Minera Trading Down 6.0%

Shares of Sociedad Quimica y Minera stock opened at $76.72 on Monday. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 41.92 and a beta of 0.99. Sociedad Quimica y Minera has a 52-week low of $29.36 and a 52-week high of $86.13. The company’s 50-day simple moving average is $71.24 and its 200-day simple moving average is $54.14. The company has a quick ratio of 1.88, a current ratio of 2.82 and a debt-to-equity ratio of 0.68.

Sociedad Quimica y Minera (NYSE:SQM) last announced its quarterly earnings data on Tuesday, November 18th. The basic materials company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.06). The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Sociedad Quimica y Minera had a net margin of 12.12% and a return on equity of 9.79%. Sociedad Quimica y Minera’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.46 EPS. As a group, equities research analysts anticipate that Sociedad Quimica y Minera will post -1.31 earnings per share for the current year.

Sociedad Quimica y Minera Dividend Announcement

The business also recently announced a special dividend, which was paid on Monday, January 5th. Shareholders of record on Tuesday, December 30th were given a dividend of $0.1236 per share. The ex-dividend date was Tuesday, December 30th. Sociedad Quimica y Minera’s dividend payout ratio is presently 6.56%.

Sociedad Quimica y Minera Company Profile

Sociedad Química y Minera de Chile SA (NYSE: SQM) is a leading global producer of specialty chemicals and minerals headquartered in Santiago, Chile. The company focuses on the extraction and processing of key inputs for the agricultural, industrial and high‐tech sectors. Its core business activities include the mining of lithium, potassium and iodine, as well as the manufacture of value‐added products derived from these raw materials.

SQM’s product portfolio spans lithium carbonate and lithium hydroxide used in electric vehicle batteries and energy storage systems; potassium chloride and potassium nitrate fertilizers designed for precision agriculture; and iodine and its derivatives for pharmaceutical, food and electronics applications.