JPMorgan Chase & Co. Analysts Give Sociedad Quimica y Minera de Chile (NYSE:SQM) a $29.00 Price Target

JPMorgan Chase & Co. set a $29.00 price objective on Sociedad Quimica y Minera de Chile (NYSE:SQM) in a research report released on Monday, TipRanks reports. The firm currently has a hold rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Vertical Group began coverage on Sociedad Quimica y Minera de Chile in a report on Monday, April 22nd. They set a sell rating and a $23.00 price objective for the company. Deutsche Bank set a $32.00 price objective on Sociedad Quimica y Minera de Chile and gave the stock a hold rating in a report on Tuesday, May 28th. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a hold rating to a sell rating in a report on Tuesday, July 2nd. Morgan Stanley upgraded Sociedad Quimica y Minera de Chile from an underweight rating to an equal weight rating in a report on Friday, July 12th. Finally, BMO Capital Markets downgraded Sociedad Quimica y Minera de Chile from an outperform rating to a market perform rating and decreased their price target for the company from $47.00 to $31.00 in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $36.25.

NYSE:SQM opened at $26.01 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.42 and a current ratio of 3.92. The company has a market cap of $6.95 billion, a PE ratio of 15.57, a PEG ratio of 1.96 and a beta of 1.08. Sociedad Quimica y Minera de Chile has a 52-week low of $25.61 and a 52-week high of $48.80. The stock has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $34.91.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Wednesday, May 22nd. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.04). The firm had revenue of $504.20 million for the quarter, compared to the consensus estimate of $487.04 million. Sociedad Quimica y Minera de Chile had a return on equity of 19.01% and a net margin of 18.06%. On average, research analysts predict that Sociedad Quimica y Minera de Chile will post 1.4 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Stonebridge Capital Advisors LLC bought a new position in Sociedad Quimica y Minera de Chile in the second quarter valued at approximately $37,000. Cornerstone Advisors Inc. grew its stake in Sociedad Quimica y Minera de Chile by 156.5% in the second quarter. Cornerstone Advisors Inc. now owns 1,285 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 784 shares in the last quarter. Parallel Advisors LLC grew its stake in Sociedad Quimica y Minera de Chile by 453.9% in the second quarter. Parallel Advisors LLC now owns 1,346 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 1,103 shares in the last quarter. Osborn Williams & Donohoe LLC bought a new position in Sociedad Quimica y Minera de Chile in the first quarter valued at approximately $45,000. Finally, Capital Investment Advisory Services LLC grew its stake in Sociedad Quimica y Minera de Chile by 413.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,055 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 1,655 shares in the last quarter. Hedge funds and other institutional investors own 10.61% of the company’s stock.

Sociedad Quimica y Minera de Chile Company Profile

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.

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

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