Last year, Sociedad Química y Minera de Chile S.A. (SQM) rose due to its lithium segment. However, the company has returned losses this year due to oversupply fears in the market (MOO). Albemarle (ALB) and FMC (FMC) also saw similar trends. Analysts downgraded SQM, which we’ll discuss in this part.
The company reported its earnings on February 28. The stock is trading ~3.6% lower as of March 14.
The current consensus mean rating on SQM stands at 2.42 with an overall “buy” recommendation on the stock. The rating rose from 2.3 last month.
Out of the 12 analysts in the above chart, ~25% or three analysts have a “strong buy” recommendation on the stock for the next 12-month period. About 25% or three analysts have a “buy” recommendation on the stock for the same period, 33% of four analysts have a “hold” recommendation on the stock, while 17% or two analysts have a “sell” recommendation.
The consensus mean target price on SQM for the next 12-month period stood at $57.7, which was lower than $59.5 in February. The median price target was even lower at $55.9. The current mean and median target price would give ~13.9% and 10.3% upside over the market closing price of $50.7 on March 14.
Next, we’ll discuss analysts’ ratings and target price for FMC (FMC).