Short Interest in Sociedad Quimica y Minera de Chile (NYSE:SQM) Rises By 9.3%

Sociedad Quimica y Minera de Chile (NYSE:SQM) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 3,060,000 shares, an increase of 9.3% from the June 30th total of 2,800,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 818,000 shares, the short-interest ratio is presently 3.7 days.

SQM has been the topic of several recent analyst reports. Scotiabank downgraded shares of Sociedad Quimica y Minera de Chile from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $24.00 to $20.00 in a research note on Thursday, May 21st. Zacks Investment Research cut shares of Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Deutsche Bank reduced their price objective on shares of Sociedad Quimica y Minera de Chile from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, May 22nd. Four equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Sociedad Quimica y Minera de Chile has a consensus rating of “Hold” and an average target price of $25.69.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its holdings in Sociedad Quimica y Minera de Chile by 1,454.1% in the fourth quarter. Quadrant Capital Group LLC now owns 2,067 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 1,934 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of Sociedad Quimica y Minera de Chile during the 2nd quarter worth about $204,000. CoreCommodity Management LLC acquired a new stake in shares of Sociedad Quimica y Minera de Chile in the 1st quarter valued at about $206,000. Steward Partners Investment Advisory LLC raised its stake in Sociedad Quimica y Minera de Chile by 84.0% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 9,200 shares of the basic materials company’s stock valued at $207,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Arden Trust Co raised its stake in shares of Sociedad Quimica y Minera de Chile by 34.8% during the 1st quarter. Arden Trust Co now owns 11,389 shares of the basic materials company’s stock worth $257,000 after buying an additional 2,942 shares in the last quarter. 10.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of SQM stock traded up $0.24 during trading hours on Tuesday, hitting $30.52. 35,547 shares of the company’s stock were exchanged, compared to its average volume of 760,288. The company has a market capitalization of $7.98 billion, a PE ratio of 33.22, a PEG ratio of 3.02 and a beta of 0.95. Sociedad Quimica y Minera de Chile has a 12-month low of $15.20 and a 12-month high of $33.30. The business’s 50 day simple moving average is $28.23 and its 200-day simple moving average is $26.00. The company has a current ratio of 3.24, a quick ratio of 2.12 and a debt-to-equity ratio of 0.81.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its earnings results on Tuesday, May 19th. The basic materials company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.06). Sociedad Quimica y Minera de Chile had a net margin of 13.25% and a return on equity of 11.39%. The business had revenue of $392.00 million for the quarter, compared to the consensus estimate of $480.68 million. Equities analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.02 EPS for the current year.

Sociedad Quimica y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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