ECH: Fade Chile's Copper Bounce [Seeking Alpha]
Sociedad Quimica y Minera S.A. (SQM)
Last sociedad quimica y minera s.a. earnings: 3/2 09:13 pm
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Source: Seeking Alpha
The yield helps, but investors still aren't getting much value here. Chilean stocks went through a challenging second half of 2023, as many of the concerns I outlined in my last piece on iShares' MSCI Chile ETF ( BATS: ECH ) (see ECH: Don't Chase The 8% Yield Offered By Chilean Stocks ) weighed on performance. 2024 has taken a different turn, however, and ECH is now very close to clawing back losses from recent months. It's no coincidence that this run has coincided with a cyclical upturn in copper prices - despite the absence of copper producers in ECH's portfolio, underlying Chilean earnings strongly correlate to copper prices by virtue of the metal's relevance to the broader economy. This effect extends to the peso as well, so the benefit from higher copper prices has allowed investors to benefit from both legs (price and currency appreciation). The issue for me is that, to a large extent, the positive drivers of equity performance remain cyclical, while the negative drivers a
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News
- Metals in Electric Vehicles Battery Market Trends and Analysis Report 2024-2030, By Metal Type (Lithium, Nickel, Cobalt, Manganese, Aluminum), Battery Type, Application and Region [Yahoo! Finance]Yahoo! Finance
- ALTILIUM AND ENVA SIGN MOU FOR EV BATTERY RECYCLING PARTNERSHIP [Yahoo! Finance]Yahoo! Finance
- Sociedad Química y Minera de Chile S.A. (NYSE: SQM) had its price target lowered by analysts at Bank of America Co. from $48.00 to $47.00. They now have an "underperform" rating on the stock.MarketBeat
- Sociedad Química y Minera de Chile S.A. (NYSE: SQM) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $42.00 to $45.00. They now have a "hold" rating on the stock.MarketBeat
- Sociedad Química y Minera de Chile S.A. (NYSE: SQM) had its price target lowered by analysts at BMO Capital Markets from $70.00 to $65.00. They now have an "outperform" rating on the stock.MarketBeat
SQM
Earnings
- 5/23/24 - Miss
SQM
Sec Filings
- 6/20/24 - Form 6-K
- 5/31/24 - Form 6-K
- 5/23/24 - Form 6-K
- SQM's page on the SEC website