Sociedad Quimica y Minera de Chile (SQM) Given a $52.00 Price Target at JPMorgan Chase & Co.

Sociedad Quimica y Minera de Chile (NYSE:SQM) has been given a $52.00 target price by research analysts at JPMorgan Chase & Co. in a research report issued on Friday. The firm presently has a “buy” rating on the basic materials company’s stock. JPMorgan Chase & Co.’s target price points to a potential upside of 15.89% from the company’s previous close.

Several other equities research analysts have also commented on the stock. BMO Capital Markets upped their price target on shares of Sociedad Quimica y Minera de Chile to $50.00 and gave the company an “underperform” rating in a report on Monday, August 27th. Deutsche Bank set a $56.00 price target on shares of Sociedad Quimica y Minera de Chile and gave the company a “buy” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered shares of Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a report on Friday, August 24th. TheStreet raised shares of Sociedad Quimica y Minera de Chile from a “c” rating to a “b-” rating in a report on Monday, October 1st. Finally, Jefferies Financial Group initiated coverage on shares of Sociedad Quimica y Minera de Chile in a report on Wednesday, October 3rd. They issued a “hold” rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Sociedad Quimica y Minera de Chile presently has a consensus rating of “Hold” and an average price target of $52.33.

NYSE:SQM opened at $44.87 on Friday. Sociedad Quimica y Minera de Chile has a one year low of $39.54 and a one year high of $64.20. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 3.64. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, August 22nd. The basic materials company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.38 by $0.13. Sociedad Quimica y Minera de Chile had a net margin of 20.56% and a return on equity of 21.19%. The company had revenue of $638.70 million for the quarter, compared to analyst estimates of $549.92 million. Sell-side analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.88 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. Earnest Partners LLC purchased a new stake in shares of Sociedad Quimica y Minera de Chile during the 3rd quarter worth about $89,882,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sociedad Quimica y Minera de Chile by 17,033.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,294,927 shares of the basic materials company’s stock worth $59,203,000 after acquiring an additional 1,287,369 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Sociedad Quimica y Minera de Chile by 166.6% during the 3rd quarter. Schroder Investment Management Group now owns 1,218,808 shares of the basic materials company’s stock worth $55,724,000 after acquiring an additional 761,708 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Sociedad Quimica y Minera de Chile by 73.7% during the 3rd quarter. Macquarie Group Ltd. now owns 1,171,734 shares of the basic materials company’s stock worth $53,572,000 after acquiring an additional 497,339 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 156.1% during the 3rd quarter. FMR LLC now owns 1,027,900 shares of the basic materials company’s stock worth $46,995,000 after acquiring an additional 626,500 shares in the last quarter. 9.44% of the stock is currently owned by institutional investors and hedge funds.

About Sociedad Quimica y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

Further Reading: Earnings Reports

Analyst Recommendations for Sociedad Quimica y Minera de Chile (NYSE:SQM)

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