Sociedad Química y Minera de Chile (NYSE:SQM) Upgraded at StockNews.com

StockNews.com upgraded shares of Sociedad Química y Minera de Chile (NYSE:SQM) to a sell rating in a report released on Thursday.

Several other research firms have also issued reports on SQM. Deutsche Bank Aktiengesellschaft decreased their target price on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $44.00 in a research note on Friday, October 11th. Berenberg Bank assumed coverage on shares of Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price target for the company. Jefferies Financial Group dropped their price target on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Finally, Bank of America reduced their price objective on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Sociedad Química y Minera de Chile has an average rating of “Hold” and a consensus price target of $48.06.

Sociedad Química y Minera de Chile Stock Down 3.5 %

NYSE:SQM opened at $38.26 on Thursday. Sociedad Química y Minera de Chile has a 52 week low of $32.24 and a 52 week high of $64.62. The stock’s fifty day moving average is $39.61 and its two-hundred day moving average is $40.64. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of -34.47 and a beta of 1.03. The company has a quick ratio of 1.47, a current ratio of 2.94 and a debt-to-equity ratio of 0.74.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds and other institutional investors have recently bought and sold shares of SQM. O Shaughnessy Asset Management LLC increased its holdings in shares of Sociedad Química y Minera de Chile by 43.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,024 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 1,517 shares during the last quarter. Lazard Asset Management LLC increased its stake in Sociedad Química y Minera de Chile by 8.4% in the first quarter. Lazard Asset Management LLC now owns 2,144,179 shares of the basic materials company’s stock valued at $105,407,000 after purchasing an additional 165,370 shares during the last quarter. Earnest Partners LLC raised its holdings in Sociedad Química y Minera de Chile by 9.3% during the first quarter. Earnest Partners LLC now owns 1,019,368 shares of the basic materials company’s stock worth $50,112,000 after purchasing an additional 86,811 shares in the last quarter. WealthPlan Investment Management LLC lifted its position in shares of Sociedad Química y Minera de Chile by 108.1% during the 1st quarter. WealthPlan Investment Management LLC now owns 8,909 shares of the basic materials company’s stock worth $438,000 after buying an additional 4,627 shares during the last quarter. Finally, Bluefin Capital Management LLC acquired a new position in shares of Sociedad Química y Minera de Chile in the 1st quarter valued at $251,000. 12.41% of the stock is currently owned by institutional investors and hedge funds.

About Sociedad Química y Minera de Chile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.