JPMorgan Chase & Co. Lowers Sociedad Química y Minera de Chile (NYSE:SQM) to Neutral

JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile (NYSE:SQM) from an overweight rating to a neutral rating in a research report released on Friday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $44.00 price objective on the basic materials company’s stock, down from their previous price objective of $55.00.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group reduced their target price on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a buy rating on the stock in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Química y Minera de Chile from $45.00 to $36.00 and set a hold rating on the stock in a research note on Thursday, July 18th. Berenberg Bank assumed coverage on Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They set a hold rating and a $35.00 price target for the company. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a neutral rating to a buy rating in a research report on Friday, August 9th. Finally, Bank of America decreased their target price 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $48.69.

Sociedad Química y Minera de Chile Stock Down 3.4 %

Shares of NYSE SQM opened at $42.43 on Friday. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 30.53 and a beta of 1.02. Sociedad Química y Minera de Chile has a 12-month low of $32.24 and a 12-month high of $64.62. The company has a current ratio of 2.19, a quick ratio of 1.47 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $38.24 and its 200-day moving average price is $42.33.

Sociedad Química y Minera de Chile (NYSE:SQM) last announced its earnings results 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). Sociedad Química y Minera de Chile had a return on equity of 23.15% and a net margin of 0.48%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm posted $2.03 EPS. On average, equities research analysts anticipate that Sociedad Química y Minera de Chile will post -0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning lifted its position in shares of Sociedad Química y Minera de Chile by 63.8% in the 3rd quarter. Creative Planning now owns 18,516 shares of the basic materials company’s stock worth $772,000 after purchasing an additional 7,209 shares during the period. Richard P Slaughter Associates Inc lifted its holdings in Sociedad Química y Minera de Chile by 5.9% during the third quarter. Richard P Slaughter Associates Inc now owns 31,857 shares of the basic materials company’s stock worth $1,328,000 after buying an additional 1,765 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Sociedad Química y Minera de Chile by 47.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 683 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Sociedad Química y Minera de Chile by 5.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,020 shares of the basic materials company’s stock valued at $449,000 after acquiring an additional 591 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Sociedad Química y Minera de Chile by 11.6% in the 2nd quarter. AQR Capital Management LLC now owns 5,249 shares of the basic materials company’s stock worth $214,000 after acquiring an additional 544 shares in the last quarter. 12.41% of the stock is currently owned by 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.