Analysts Set Expectations for Sociedad Química y Minera de Chile S.A.’s Q3 2024 Earnings (NYSE:SQM)

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) – Analysts at Scotiabank issued their Q3 2024 EPS estimates for shares of Sociedad Química y Minera de Chile in a research report issued on Thursday, August 22nd. Scotiabank analyst B. Isaacson forecasts that the basic materials company will earn $0.70 per share for the quarter. The consensus estimate for Sociedad Química y Minera de Chile’s current full-year earnings is $1.36 per share.

A number of other brokerages have also recently commented on SQM. Bank of America decreased their target price on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 21st. Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They issued a “hold” rating and a $35.00 target price for the company. BMO Capital Markets reduced their price target on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Finally, The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the 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 $55.65.

Sociedad Química y Minera de Chile Stock Down 1.0 %

Shares of NYSE SQM opened at $38.24 on Monday. The stock has a market capitalization of $10.92 billion, a P/E ratio of 27.51, a PEG ratio of 11.53 and a beta of 1.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.34 and a quick ratio of 1.61. Sociedad Química y Minera de Chile has a one year low of $32.24 and a one year high of $64.62. The firm’s 50 day simple moving average is $39.05 and its two-hundred day simple moving average is $44.01.

Sociedad Química y Minera de Chile (NYSE:SQM) last posted its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a return on equity of 30.74% and a net margin of 6.25%. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the firm posted $2.03 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SQM. International Assets Investment Management LLC purchased a new position in shares of Sociedad Química y Minera de Chile during the 4th quarter worth approximately $2,611,000. Atria Wealth Solutions Inc. grew its stake in Sociedad Química y Minera de Chile by 5.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,293 shares of the basic materials company’s stock worth $564,000 after purchasing an additional 450 shares during the period. Chase Investment Counsel Corp raised its holdings in Sociedad Química y Minera de Chile by 29.4% in the fourth quarter. Chase Investment Counsel Corp now owns 16,000 shares of the basic materials company’s stock worth $963,000 after purchasing an additional 3,640 shares in the last quarter. Triumph Capital Management lifted its position in Sociedad Química y Minera de Chile by 11.5% during the fourth quarter. Triumph Capital Management now owns 11,481 shares of the basic materials company’s stock valued at $691,000 after buying an additional 1,187 shares during the period. Finally, Natixis Advisors L.P. boosted its holdings in shares of Sociedad Química y Minera de Chile by 3.1% during the 4th quarter. Natixis Advisors L.P. now owns 42,805 shares of the basic materials company’s stock valued at $2,577,000 after buying an additional 1,277 shares in the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine derivatives, lithium derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty blends, and other specialty fertilizers.