Sociedad Química y Minera de Chile (NYSE:SQM) Shares Down 3.1% on Disappointing Earnings

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report)'s share price fell 3.1% during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $37.25 and last traded at $37.27. 38,433 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,223,908 shares. The stock had previously closed at $38.45.

• 3 Value Stocks Buffett Wishes He Could Buy

The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a net margin of 6.25% and a return on equity of 30.74%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $2.03 EPS.

Analyst Ratings Changes

Several research analysts have issued reports on SQM shares. Bank of America reduced their price objective on 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. Deutsche Bank Aktiengesellschaft reduced their price objective 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. BMO Capital Markets lowered their price target on Sociedad Química y Minera de Chile from $70.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, May 24th. Berenberg Bank assumed coverage on Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They issued a "hold" rating and a $35.00 target price on the stock. Finally, 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. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $56.43.

• 3 Key Stocks Helping to Drive the EV Race

Get Our Latest Analysis on Sociedad Química y Minera de Chile

Institutional Trading of Sociedad Química y Minera de Chile

Hedge funds have recently added to or reduced their stakes in the company. Prudential PLC bought a new position in shares of Sociedad Química y Minera de Chile in the fourth quarter worth $30,572,000. Robeco Schweiz AG lifted its stake in shares of Sociedad Química y Minera de Chile by 23.4% in the 1st quarter. Robeco Schweiz AG now owns 1,407,650 shares of the basic materials company's stock valued at $69,200,000 after acquiring an additional 267,005 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Sociedad Química y Minera de Chile by 41.6% in the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company's stock worth $36,661,000 after purchasing an additional 264,324 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Sociedad Química y Minera de Chile in the 2nd quarter valued at $8,592,000. Finally, Lazard Asset Management LLC increased its position in shares of Sociedad Química y Minera de Chile by 8.4% during the first quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company's stock worth $105,407,000 after buying an additional 165,370 shares during the period. 12.41% of the stock is owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Stock Down 3.7 %

• Nio Stock Could Double Your Money This Coming EV Cycle

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.34. The firm's 50 day moving average price is $39.44 and its two-hundred day moving average price is $44.07. The company has a market cap of $10.58 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 11.53 and a beta of 1.05.

Sociedad Química y Minera de Chile Company Profile

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.

Further Reading

• Five stocks we like better than Sociedad Química y Minera de Chile
• When to Sell a Stock for Profit or Loss
• These 3 Stocks Pay You More Than 5% to Own Them
• How to Evaluate a Stock Before Buying
• 3 Over-Hyped Stocks to Sell Now
• Best Aerospace Stocks Investing
• Why Salesforce Stock Could Be About To Rally 20%

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

→ Secure this "AI Fuel" Stock Before the Billionaires Buy It All (From Behind the Markets) (Ad)

Should you invest $1,000 in Sociedad Química y Minera de Chile right now?

Before you consider Sociedad Química y Minera de Chile, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sociedad Química y Minera de Chile wasn't on the list.

While Sociedad Química y Minera de Chile currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here