Sociedad Quimica y Minera de Chile’s (SQM) “Hold” Rating Reaffirmed at BMO Capital Markets

BMO Capital Markets reaffirmed their hold rating on shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) in a report released on Thursday morning. The brokerage currently has a $30.00 price objective on the basic materials company’s stock.

Other research analysts have also recently issued reports about the stock. Deutsche Bank AG cut shares of Sociedad Quimica y Minera de Chile from a buy rating to a hold rating and set a $36.00 target price for the company. in a report on Monday, April 17th. Zacks Investment Research cut shares of Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Tuesday, March 28th. Citigroup Inc raised shares of Sociedad Quimica y Minera de Chile from a sell rating to a neutral rating in a report on Wednesday, January 25th. Finally, Vetr raised shares of Sociedad Quimica y Minera de Chile from a buy rating to a strong-buy rating and set a $38.88 target price for the company in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Sociedad Quimica y Minera de Chile currently has an average rating of Hold and an average target price of $33.31.

Sociedad Quimica y Minera de Chile (NYSE:SQM) traded up 3.719% during mid-day trading on Thursday, hitting $35.835. The stock had a trading volume of 927,347 shares. The company has a market cap of $9.43 billion, a price-to-earnings ratio of 33.903 and a beta of 1.10. Sociedad Quimica y Minera de Chile has a one year low of $20.92 and a one year high of $37.24. The company has a 50 day moving average price of $35.21 and a 200-day moving average price of $31.96.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last issued its earnings results on Wednesday, March 1st. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. Sociedad Quimica y Minera de Chile had a net margin of 13.47% and a return on equity of 10.19%. The company had revenue of $553.80 million during the quarter, compared to analysts’ expectations of $480.35 million. Equities analysts expect that Sociedad Quimica y Minera de Chile will post $1.44 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Sociedad Quimica y Minera de Chile by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,890 shares of the basic materials company’s stock worth $1,746,000 after buying an additional 400 shares during the period. Adage Capital Partners GP L.L.C. boosted its position in shares of Sociedad Quimica y Minera de Chile by 60.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 641,987 shares of the basic materials company’s stock worth $17,269,000 after buying an additional 241,987 shares during the period. Two Sigma Advisers LP boosted its position in shares of Sociedad Quimica y Minera de Chile by 66.0% in the third quarter. Two Sigma Advisers LP now owns 268,474 shares of the basic materials company’s stock worth $7,222,000 after buying an additional 106,700 shares during the period. Ardsley Advisory Partners acquired a new position in shares of Sociedad Quimica y Minera de Chile during the third quarter worth $1,385,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Sociedad Quimica y Minera de Chile during the third quarter worth $2,690,000. 18.82% of the stock is owned by institutional investors and hedge funds.

About Sociedad Quimica y Minera de Chile

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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