Scotiabank Brokers Decrease Earnings Estimates for SQM

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) – Research analysts at Scotiabank decreased their FY2024 EPS estimates for shares of Sociedad Química y Minera de Chile in a research note issued on Monday, November 25th. Scotiabank analyst B. Isaacson now anticipates that the basic materials company will earn ($1.37) per share for the year, down from their previous estimate 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 ($1.25) per share. Scotiabank also issued estimates for Sociedad Química y Minera de Chile’s FY2025 earnings at $3.92 EPS.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $55.00 to $44.00 in a research note on Friday, October 11th. StockNews.com raised Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Jefferies Financial Group reduced their price target 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 report on Monday, August 26th. 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. Finally, Bank of America reduced 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 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 assigned a buy rating to the stock. According to MarketBeat.com, Sociedad Química y Minera de Chile has a consensus rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Stock Down 0.3 %

Shares of NYSE SQM opened at $38.46 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. The business’s 50 day moving average is $39.64 and its two-hundred day moving average is $40.44. Sociedad Química y Minera de Chile has a 52-week low of $32.24 and a 52-week high of $64.62. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of -34.74 and a beta of 1.03.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQM. SG Americas Securities LLC raised its holdings in shares of Sociedad Química y Minera de Chile by 242.5% in the 2nd quarter. SG Americas Securities LLC now owns 37,977 shares of the basic materials company’s stock valued at $1,548,000 after purchasing an additional 26,889 shares in the last quarter. Unison Advisors LLC purchased a new position in Sociedad Química y Minera de Chile in the second quarter valued at $2,547,000. Sei Investments Co. raised its stake in Sociedad Química y Minera de Chile by 4.9% in the second quarter. Sei Investments Co. now owns 418,395 shares of the basic materials company’s stock valued at $17,050,000 after buying an additional 19,649 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sociedad Química y Minera de Chile by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock worth $19,921,000 after buying an additional 13,756 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Sociedad Química y Minera de Chile during the 2nd quarter worth about $989,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

About Sociedad Química y Minera de Chile

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.