Mirae Asset Global Investments Co. Ltd. Has $2.15 Million Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Mirae Asset Global Investments Co. Ltd. cut its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,623 shares of the basic materials company’s stock after selling 1,442 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Sociedad Química y Minera de Chile were worth $2,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ballentine Partners LLC acquired a new position in Sociedad Química y Minera de Chile during the third quarter valued at approximately $215,000. International Assets Investment Management LLC bought a new position in shares of Sociedad Química y Minera de Chile in the 3rd quarter valued at $973,000. MFA Wealth Advisors LLC raised its holdings 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 worth $292,000 after buying an additional 313 shares in the last quarter. Signaturefd LLC lifted its position in shares of Sociedad Química y Minera de Chile by 21.3% during the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after buying an additional 439 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Sociedad Química y Minera de Chile by 2.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock valued at $36,984,000 after buying an additional 24,999 shares in the last quarter. Institutional investors own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SQM shares. Berenberg Bank began coverage on shares of Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 target price for the company. Bank of America dropped their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of 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. Jefferies Financial Group dropped their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. 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 stock. According to MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and an average target price of $48.69.

Sociedad Química y Minera de Chile Stock Performance

Shares of Sociedad Química y Minera de Chile stock opened at $38.68 on Thursday. The stock has a market cap of $11.05 billion, a price-to-earnings ratio of 351.59 and a beta of 1.02. The company has a quick ratio of 1.47, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. Sociedad Química y Minera de Chile S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The company’s fifty day moving average is $39.21 and its 200 day moving average is $41.52.

Sociedad Química y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Wednesday, August 21st. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.99 by ($0.24). The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. Sociedad Química y Minera de Chile had a net margin of 0.48% and a return on equity of 23.15%. During the same period in the previous year, the company posted $2.03 EPS. Sell-side analysts forecast that Sociedad Química y Minera de Chile S.A. will post -0.92 EPS for the current year.

Sociedad Química y Minera de Chile 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.