Skip to Content

Jefferies Financial Group Assesses Sociedad Qumica y Minera de Chile S.A.’s Fiscal Year 2024 Earnings (NYSE:SQM)

Jefferies Financial Group Assesses Sociedad Qumica y Minera de Chile S.A.’s Fiscal Year 2024 Earnings (NYSE:SQM)

NYSE: SQM is the ticker symbol representing Chilean Chemical and Mining Society S.A. in the stock market. Jefferies Financial Group lowered its earnings projections for Sociedad Qumica y Minera de Chile for the fiscal year 2024 in a research report distributed to clients and investors on Tuesday, January 10. The report was released on the 10th. L. Alexander, an analyst at Jefferies Financial Group, has reduced her earnings forecast for the company specializing in basic materials for this year to $6.50 per share, a significant decrease from her previous projection of $11.75 per share. The earnings projection for the entire year at Sociedad Qumica y Minera de Chile is $13.40 per share. Jefferies Financial Group anticipates that Sociedad Qumica y Minera de Chile will bring in a profit of $5.25 per share during its fiscal year 2025. These predictions were made using current market conditions.

On November 16, the financial report for Sociedad Qumica y Minera de Chile, traded on the New York Stock Exchange under the ticker symbol SQM, was made available to the general public. The company that deals in basic materials announced its earnings per share for the quarter of $3.85, which was $0.45 higher than the analysts had anticipated as a consensus. The return on equity for Sociedad Qumica y Minera de Chile came in at 83.91%, and the net margin for the company was 35.53%. Both of these figures are significantly higher than the average. The actual revenue the company brought in for the quarter was $2.96 billion, which is higher than the forecasted amount of $2.83 billion expected for the company.

The opening price of a share on the NYSE SQM on Thursday was $84.41 per share. For the company, the debt-to-equity ratio is 0.47, the quick ratio is 1.61, the current ratio is 2.12to-equity ratio is 0.47, the quick ratio is 1.61, and the current ratio is 2.12. The moving average for the stock over the past 50 days is $90.85, and the moving average over the past 200 days is, respectively, $93.68. Over the last 52 weeks, the price of a share of stock in Sociedad Qumica y Minera de Chile has ranged from as low as $49.80 to as high as $115.76. The stock has a price-to-earnings ratio of 7.83, a price-to-earnings-to-growth ratio of 0.35, and a beta value of 0.90. It is estimated to be worth 24.11 billion dollars.

Recently, several other brokerages have produced reports on SQM, and the findings of those studies have been very positively received. As a result of a report that BMO Capital Markets released on Friday, September 16, the company raised its price objective on shares of Sociedad Qumica y Minera de Chile from $125.00 to $130.00. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sociedad Qumica y Minera de Chile from $125.00 to $95.00 in a research note published on Tuesday. Citigroup decreased their price target for Sociedad Qumica y Minera de Chile from $112.00 to $92.00 in a research note published on Thursday, December 15. They also changed their Sociedad Qumica y Minera de Chile rating from “buy” to “neutral.” The recommendation for shares of Sociedad Qumica y Minera de Chile was changed from “hold” to “buy” in a research note published on Saturday, November 19, by StockNews.com. This indicates that the website now recommends purchasing the stock. One equity research analyst suggested that investors sell the stock; two other analysts recommended that investors hold onto the stock; and four analysts gave the stock a buy rating. According to information from Bloomberg, the current recommendation for Sociedad Qumica y Minera de Chile is “Hold,” Analysts have set a price target of $96.67 for the company’s stock. In addition, the price target was determined based on the company’s historical performance.

The recent events have caused several large investors to make adjustments to the amount of the company’s stock that they currently own, which brings us to the following sentence: The Huntington National Bank acquired a new shareholding position in Sociedad Qumica y Minera de Chile during the third quarter of the fiscal year. It was estimated that this new investment was worth somewhere around $27,000. The percentage of Sociedad Qumica y Minera de Chile shares that Private Capital Group LLC owns increased by 15,400.0% during the year’s second quarter. Private Capital Group LLC now has a total of 310 shares of the stock of the basic materials business, which are currently valued at a sum equal to a total of $26,000. This resulted from additional purchases that added up to 308 shares during the relevant period. During the third quarter, Householder Group Estate & Retirement Specialist LLC added a share of Sociedad Qumica y Minera de Chile to its investment portfolio by purchasing one for approximately $29,000. This purchase was made to diversify the company’s holdings. PenderFund Capital Management Ltd. opened a new stake in Sociedad Qumica y Minera de Chile by investing approximately $41,000 during the year’s second quarter.

Last but not least, during the third quarter, Koshinski Asset Management Inc. added approximately 375,000 dollars worth of shares of Sociedad Qumica y Minera de Chile to its investment portfolio. This is certainly not the least of Koshinski Asset Management Inc.’s accomplishments. To the tune of 18.42% of the company’s stock, institutional investors and hedge funds collectively hold the company’s shares.

SQM Chile S.A. is a company that produces and sells a wide variety of products and services, some of which include specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, potassium chloride and sulfate, industrial chemicals and other products and services. These are just some of the products and services that SQM Chile S.A. offers. The company makes available for purchase a wide range of specialized fertilizers, such as potassium nitrate, sodium nitrate, sodium potassium nitrate, bespoke blends, and many more.

Tags

Leave a comment

Your email address will not be published. Required fields are marked *