Bronte Capital Management Pty Ltd. Purchases 262 Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Bronte Capital Management Pty Ltd. boosted its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,477 shares of the basic materials company’s stock after purchasing an additional 262 shares during the period. Sociedad Química y Minera de Chile accounts for about 0.5% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 19th biggest holding. Bronte Capital Management Pty Ltd.’s holdings in Sociedad Química y Minera de Chile were worth $5,813,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Confluence Investment Management LLC increased its position in Sociedad Química y Minera de Chile by 20.9% in the 3rd quarter. Confluence Investment Management LLC now owns 7,586 shares of the basic materials company’s stock valued at $316,000 after acquiring an additional 1,309 shares during the period. abrdn plc increased its holdings in Sociedad Química y Minera de Chile by 2.7% in the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after purchasing an additional 31,955 shares during the period. Hedges Asset Management LLC raised its position in Sociedad Química y Minera de Chile by 12.9% during the 3rd quarter. Hedges Asset Management LLC now owns 30,700 shares of the basic materials company’s stock worth $1,280,000 after purchasing an additional 3,500 shares during the last quarter. Insight Folios Inc lifted its holdings in Sociedad Química y Minera de Chile by 3.5% during the 3rd quarter. Insight Folios Inc now owns 70,789 shares of the basic materials company’s stock worth $2,950,000 after buying an additional 2,410 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Sociedad Química y Minera de Chile by 48.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 19,305 shares of the basic materials company’s stock valued at $805,000 after buying an additional 6,268 shares during the last quarter. 12.41% of the stock is currently owned by institutional investors.

Sociedad Química y Minera de Chile Price Performance

SQM stock opened at $38.20 on Tuesday. Sociedad Química y Minera de Chile S.A. has a 1 year low of $32.24 and a 1 year high of $64.62. The stock has a market capitalization of $10.91 billion, a PE ratio of 347.27 and a beta of 1.03. The company’s 50-day moving average is $39.24 and its 200-day moving average is $41.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.47.

Sociedad Química y Minera de Chile (NYSE:SQM) last announced its quarterly earnings data on Wednesday, August 21st. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.24). Sociedad Química y Minera de Chile had a net margin of 0.48% and a return on equity of 23.15%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business posted $2.03 EPS. Equities research analysts expect that Sociedad Química y Minera de Chile S.A. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. 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. Jefferies Financial Group dropped 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. Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They set a “hold” rating and a $35.00 price objective for the company. JPMorgan Chase & Co. lowered shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $44.00 in a report on Friday, October 11th. Finally, Bank of America decreased 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 report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.69.

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.