Sociedad Quimica y Minera de Chile (SQM) Spikes on Wednesday

NEW YORK (TheStreet) -- Sociedad Quimica y Minera de Chile (SQM) spiked on Wednesday, though fourth-quarter earnings came in below consensus.

By market close, shares had added 4.5% to $32.95.

The Chile-based agricultural fertilizer producer reported net income of 26 cents a share in the three months to December. Analysts surveyed by Thomson Reuters anticipated 32 cents a share.

Revenue of $492.21 million exceeded consensus by $11.66 million.

The company also said its board would maintain its dividend policy, paying 50% of the distributable net income obtained over fiscal 2013. Subject to shareholder approval at the annual meeting on April 25, the company will distribute a final dividend of 88.738 cents a share.

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TheStreet Ratings team rates SOC QUIMICA Y MINERA DE CHI as a Hold with a ratings score of C. The team has this to say about their recommendation:

"We rate SOC QUIMICA Y MINERA DE CHI (SQM) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share."

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