Sociedad Quimica y Minera (NYSE:SQM) Sets New 52-Week High – Should You Buy?

Sociedad Quimica y Minera S.A. (NYSE:SQM)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $74.09 and last traded at $75.0020, with a volume of 200786 shares changing hands. The stock had previously closed at $70.14.

Analyst Ratings Changes

A number of analysts have commented on the stock. Rothschild Redb upgraded shares of Sociedad Quimica y Minera to a “hold” rating in a research note on Friday, October 24th. Citigroup cut shares of Sociedad Quimica y Minera from a “buy” rating to a “neutral” rating and upped their target price for the company from $51.00 to $74.00 in a report on Friday, December 12th. UBS Group set a $79.00 price target on Sociedad Quimica y Minera in a report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Sociedad Quimica y Minera in a report on Monday, December 29th. Finally, Jefferies Financial Group restated a “hold” rating and set a $50.00 price objective (down previously from $53.00) on shares of Sociedad Quimica y Minera in a report on Monday, October 6th. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sociedad Quimica y Minera currently has a consensus rating of “Hold” and an average target price of $59.75.

Sociedad Quimica y Minera Price Performance

The company’s 50-day moving average is $60.74 and its 200-day moving average is $48.29. The firm has a market cap of $21.40 billion, a price-to-earnings ratio of 40.98 and a beta of 0.98. The company has a current ratio of 2.82, a quick ratio of 1.88 and a debt-to-equity ratio of 0.68.

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

Sociedad Quimica y Minera Announces Dividend

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

Hedge Funds Weigh In On Sociedad Quimica y Minera

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in Sociedad Quimica y Minera by 138.4% in the fourth quarter. GAMMA Investing LLC now owns 441 shares of the basic materials company’s stock valued at $30,000 after buying an additional 256 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Sociedad Quimica y Minera by 153.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 969 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 586 shares during the period. Fulcrum Asset Management LLP bought a new position in Sociedad Quimica y Minera during the third quarter worth $43,000. Triumph Capital Management acquired a new stake in Sociedad Quimica y Minera in the third quarter worth $49,000. Finally, Advisory Services Network LLC bought a new stake in Sociedad Quimica y Minera in the third quarter valued at $62,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

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.