Sociedad Quimica y Minera de Chile (NYSE:SQM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) from a hold rating to a strong sell rating in a research report report published on Saturday morning, Zacks.com reports.

According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “

Separately, ValuEngine upgraded Sociedad Quimica y Minera de Chile from a hold rating to a buy rating in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $29.50.

NYSE SQM opened at $30.15 on Friday. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.23 and a beta of 1.13. Sociedad Quimica y Minera de Chile has a one year low of $22.71 and a one year high of $45.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.76 and a quick ratio of 1.78. The business’s fifty day moving average is $26.27 and its 200-day moving average is $27.11.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its quarterly earnings data on Wednesday, November 20th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). Sociedad Quimica y Minera de Chile had a net margin of 15.70% and a return on equity of 14.96%. The firm had revenue of $473.10 million during the quarter, compared to the consensus estimate of $487.65 million. Research analysts expect that Sociedad Quimica y Minera de Chile will post 1.09 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. grew its holdings in Sociedad Quimica y Minera de Chile by 7.4% during the 2nd quarter. Macquarie Group Ltd. now owns 1,325,682 shares of the basic materials company’s stock valued at $41,242,000 after buying an additional 91,298 shares in the last quarter. State Street Corp grew its holdings in Sociedad Quimica y Minera de Chile by 14.7% during the 3rd quarter. State Street Corp now owns 881,509 shares of the basic materials company’s stock valued at $24,497,000 after buying an additional 113,235 shares in the last quarter. Morgan Stanley grew its holdings in Sociedad Quimica y Minera de Chile by 19.6% during the 2nd quarter. Morgan Stanley now owns 762,064 shares of the basic materials company’s stock valued at $23,707,000 after buying an additional 124,876 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Sociedad Quimica y Minera de Chile by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 664,562 shares of the basic materials company’s stock valued at $20,674,000 after buying an additional 61,276 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in Sociedad Quimica y Minera de Chile by 12.1% during the 2nd quarter. Schroder Investment Management Group now owns 520,382 shares of the basic materials company’s stock valued at $16,189,000 after buying an additional 55,977 shares in the last quarter. 10.07% of the stock is 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.

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