The Goldman Sachs Group Trims Sociedad Química y Minera de Chile (NYSE:SQM) Target Price to $46.50

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price lowered by The Goldman Sachs Group from $54.50 to $46.50 in a report issued on Tuesday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group raised Sociedad Química y Minera de Chile from a hold rating to a buy rating and increased their price target for the company from $52.00 to $62.80 in a report on Monday, April 8th. JPMorgan Chase & Co. cut their target price on Sociedad Química y Minera de Chile from $64.00 to $55.00 and set an overweight rating for the company in a research note on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Química y Minera de Chile from $48.00 to $42.00 and set a hold rating for the company in a research note on Friday, April 19th. BMO Capital Markets cut their target price on Sociedad Química y Minera de Chile from $75.00 to $70.00 and set an outperform rating for the company in a research note on Friday, March 1st. Finally, StockNews.com cut Sociedad Química y Minera de Chile from a hold rating to a sell rating in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $65.18.

Sociedad Química y Minera de Chile Price Performance

NYSE:SQM opened at $43.52 on Tuesday. Sociedad Química y Minera de Chile has a one year low of $38.50 and a one year high of $81.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.74 and a current ratio of 2.49. The stock has a market cap of $12.43 billion, a PE ratio of 6.17 and a beta of 1.07. The stock has a 50 day moving average price of $47.17 and a 200 day moving average price of $49.59.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, February 28th. The basic materials company reported $0.71 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.51). Sociedad Química y Minera de Chile had a net margin of 26.95% and a return on equity of 37.86%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business posted $4.03 EPS. Equities research analysts expect that Sociedad Química y Minera de Chile will post 4.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in shares of Sociedad Química y Minera de Chile during the third quarter worth $9,794,000. abrdn plc boosted its holdings in Sociedad Química y Minera de Chile by 4.7% in the third quarter. abrdn plc now owns 2,643,076 shares of the basic materials company’s stock valued at $157,712,000 after purchasing an additional 119,695 shares during the period. State of New Jersey Common Pension Fund D boosted its holdings in Sociedad Química y Minera de Chile by 20.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 73,776 shares of the basic materials company’s stock valued at $4,402,000 after purchasing an additional 12,759 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Sociedad Química y Minera de Chile by 9.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,992,151 shares of the basic materials company’s stock valued at $120,387,000 after purchasing an additional 172,908 shares during the period. Finally, Bronte Capital Management Pty Ltd. boosted its holdings in Sociedad Química y Minera de Chile by 98.2% in the third quarter. Bronte Capital Management Pty Ltd. now owns 153,080 shares of the basic materials company’s stock valued at $9,134,000 after purchasing an additional 75,849 shares during the period. 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 produces and distributes specialty plant nutrients, iodine derivatives, lithium 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.