FY2024 Earnings Forecast for SQM Issued By Scotiabank

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) – Equities researchers at Scotiabank reduced their FY2024 earnings estimates for Sociedad Química y Minera de Chile in a research report issued on Monday, November 25th. Scotiabank analyst B. Isaacson now expects that the basic materials company will earn ($1.37) per share for the year, down from their previous estimate of ($0.86). Scotiabank has a “Sector Outperform” rating and a $50.00 price target 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.

Several other equities research analysts have also commented on the company. Bank of America dropped their price target on 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. The Goldman Sachs Group raised shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $44.00 in a research report on Friday, October 11th. Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective for the company. Finally, 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 report on Monday, August 26th. Two investment 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 MarketBeat.com, Sociedad Química y Minera de Chile presently has an average rating of “Hold” and a consensus target price of $45.56.

Sociedad Química y Minera de Chile Trading Up 1.5 %

SQM stock opened at $38.59 on Thursday. Sociedad Química y Minera de Chile has a 52 week low of $32.24 and a 52 week high of $64.62. The company has a market cap of $11.02 billion, a price-to-earnings ratio of -34.77 and a beta of 1.03. 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 has a fifty day simple moving average of $39.62 and a 200-day simple moving average of $40.46.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sociedad Química y Minera de Chile by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock valued at $3,876,000 after buying an additional 275 shares during the last quarter. MFA Wealth Advisors LLC boosted its holdings in Sociedad Química y Minera de Chile by 4.7% in the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock valued at $292,000 after purchasing an additional 313 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Sociedad Química y Minera de Chile by 3.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 401 shares in the last quarter. Saturna Capital Corp increased its holdings 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 purchasing an additional 407 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in 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 purchasing an additional 439 shares during the last quarter. Hedge funds and other institutional investors 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.