Scotiabank Has Negative Outlook of SQM FY2024 Earnings

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) – Equities research analysts at Scotiabank reduced their FY2024 earnings per share (EPS) estimates for Sociedad Química y Minera de Chile in a report issued on Monday, November 25th. Scotiabank analyst B. Isaacson now forecasts that the basic materials company will post earnings per share of ($1.37) for the year, down from their previous forecast of ($0.86). Scotiabank currently has a “Sector Outperform” rating and a $50.00 target price on the stock. The consensus estimate for Sociedad Química y Minera de Chile’s current full-year earnings is ($1.12) per share. Scotiabank also issued estimates for Sociedad Química y Minera de Chile’s FY2025 earnings at $3.92 EPS.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $44.00 in a research note on Friday, October 11th. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Bank of America cut their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a report on Wednesday, August 21st. Finally, Jefferies Financial Group lowered their target price on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Price Performance

Shares of SQM opened at $38.56 on Thursday. Sociedad Química y Minera de Chile has a twelve month low of $32.24 and a twelve month high of $64.62. The company has a market capitalization of $11.01 billion, a P/E ratio of -34.77 and a beta of 1.03. The firm has a 50 day moving average of $39.64 and a 200 day moving average of $40.45. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

A number of institutional investors have recently bought and sold shares of SQM. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sociedad Química y Minera de Chile by 0.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after buying an additional 275 shares in the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Sociedad Química y Minera de Chile by 4.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after acquiring an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Sociedad Química y Minera de Chile by 3.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 401 shares in the last quarter. Saturna Capital Corp raised its stake in Sociedad Química y Minera de Chile by 0.8% during the 3rd quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock worth $2,059,000 after acquiring an additional 407 shares during the period. Finally, Signaturefd LLC lifted its holdings in Sociedad Química y Minera de Chile by 21.3% during the third quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock valued at $104,000 after purchasing an additional 439 shares in the last quarter. 12.41% of the stock is owned by institutional investors.

Sociedad Química y Minera de Chile Company Profile

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.