Credit Capital Investments LLC Invests $208,000 in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Credit Capital Investments LLC purchased a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,000 shares of the basic materials company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Saturna Capital Corp raised its stake in shares of Sociedad Química y Minera de Chile by 0.8% during the third quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock worth $2,059,000 after purchasing an additional 407 shares during the last quarter. Chase Investment Counsel Corp raised its stake in shares of Sociedad Química y Minera de Chile by 50.0% during the third quarter. Chase Investment Counsel Corp now owns 30,000 shares of the basic materials company’s stock worth $1,250,000 after purchasing an additional 10,000 shares during the last quarter. Confluence Investment Management LLC raised its position in Sociedad Química y Minera de Chile by 20.9% in the third quarter. Confluence Investment Management LLC now owns 7,586 shares of the basic materials company’s stock worth $316,000 after acquiring an additional 1,309 shares in the last quarter. abrdn plc raised its position in Sociedad Química y Minera de Chile by 2.7% in the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock worth $49,668,000 after acquiring an additional 31,955 shares in the last quarter. Finally, Hedges Asset Management LLC raised its position in Sociedad Química y Minera de Chile by 12.9% in the third quarter. Hedges Asset Management LLC now owns 30,700 shares of the basic materials company’s stock worth $1,280,000 after acquiring an additional 3,500 shares in the last quarter. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Trading Up 6.6 %

NYSE:SQM traded up $2.46 during mid-day trading on Wednesday, reaching $39.49. The company’s stock had a trading volume of 582,152 shares, compared to its average volume of 1,165,169. The company’s fifty day simple moving average is $39.25 and its two-hundred day simple moving average is $41.07. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.47. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The stock has a market cap of $11.28 billion, a P/E ratio of 336.64 and a beta of 1.03.

Sociedad Química y Minera de Chile (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. During the same quarter last year, the business earned $2.03 earnings per share. On average, equities analysts predict that Sociedad Química y Minera de Chile S.A. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

SQM has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $44.00 in a research report on Friday, October 11th. The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Bank of America dropped their price target on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and a consensus target price of $48.69.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.