FMC (FMC), similar to Sociedad Química y Minera de Chile (SQM) and Albemarle (ALB), also has exposure to lithium, which makes it attractive to lithium investors (LIT). The company reported its earnings on May 2. Its EPS (earnings per share) of $1.84 beat analyst estimates of $1.6 at the time of its earnings. In the following weeks, the company saw several upgrades with the stock rising by almost 9% to $87.4 on May 10.
The current consensus mean rating for FMC in May stood at 2.0, which was lower than 2.1, indicating relative bullishness on the stock for the next 12 months. The number of analysts recommending a “strong buy” on the stock increased to five from four a month ago, while the number of analysts recommending a “buy” remained unchanged at 11. Consequently, the number of analysts recommending a “hold” fell from five to four in the current month, and none have a “sell” on the stock unlike Sociedad Química y Minera, Intrepid Potash, and Mosaic.
The current consensus mean price target for FMC also increased to $103.8 from $98.4 a month ago, while the median price target remained unchanged at $100. The mean price target represents 18.8% upside from the closing of $87.4 on May 10.
On May 7, Citigroup raised its price target for FMC to $100 from $95. Also, on May 4, Credit Suisse raised its price target to $107 from $100, and BMO raised its price target to $100 from $95.
Next, we’ll discuss Compass Minerals International (CMP).