Sociedad Quimica y Minera (NYSE:SQM) Price Target Raised to $82.00

Sociedad Quimica y Minera (NYSE:SQM) had its price target hoisted by The Goldman Sachs Group from $64.00 to $82.00 in a research report released on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the basic materials company’s stock.

SQM has been the topic of several other research reports. Scotiabank upped their target price on Sociedad Quimica y Minera from $100.00 to $105.00 and gave the company a “sector outperform” rating in a research report on Thursday, May 28th. Zacks Research downgraded Sociedad Quimica y Minera from a “strong-buy” rating to a “hold” rating in a report on Monday, March 23rd. Wall Street Zen raised Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 12th. Bank of America increased their price target on Sociedad Quimica y Minera from $49.00 to $53.00 and gave the stock an “underperform” rating in a report on Wednesday, March 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sociedad Quimica y Minera in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sociedad Quimica y Minera has an average rating of “Hold” and a consensus target price of $74.58.

Sociedad Quimica y Minera Stock Up 5.0%

Shares of NYSE SQM opened at $69.67 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.76 and a quick ratio of 2.01. Sociedad Quimica y Minera has a 1 year low of $35.67 and a 1 year high of $98.00. The company has a 50 day simple moving average of $78.41 and a 200 day simple moving average of $78.75. The firm has a market cap of $19.90 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 0.18 and a beta of 0.97.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings results on Saturday, May 16th. The basic materials company reported $1.28 EPS for the quarter. Sociedad Quimica y Minera had a return on equity of 11.99% and a net margin of 15.38%.The firm had revenue of $1.76 billion for the quarter. On average, research analysts forecast that Sociedad Quimica y Minera will post 7.28 EPS for the current year.

Institutional Investors Weigh In On Sociedad Quimica y Minera

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Sociedad Quimica y Minera in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC boosted its holdings in Sociedad Quimica y Minera by 138.4% in the 4th quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock worth $30,000 after buying an additional 256 shares during the period. Fulcrum Asset Management LLP bought a new position in Sociedad Quimica y Minera in the 3rd quarter worth approximately $43,000. Signaturefd LLC grew its stake in Sociedad Quimica y Minera by 37.0% in the 4th quarter. Signaturefd LLC now owns 656 shares of the basic materials company’s stock valued at $45,000 after buying an additional 177 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in Sociedad Quimica y Minera in the 3rd quarter valued at approximately $49,000. 12.41% of the stock is owned by hedge funds and other institutional investors.

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.