Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Lowered to $50.00 at Scotiabank

Sociedad Química y Minera de Chile (NYSE:SQM) had its price target cut by Scotiabank from $60.00 to $50.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock.

Several other analysts have also recently commented on SQM. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th. Bank of America decreased their price objective on shares of Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an “underperform” rating for the company in a research note on Wednesday, August 21st. Berenberg Bank started coverage on shares of Sociedad Química y Minera de Chile in a research note on Wednesday, July 31st. They set a “hold” rating and a $35.00 price objective for the company. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $55.00 to $44.00 in a research note on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Stock Up 1.5 %

NYSE:SQM opened at $38.85 on Monday. The company has a market cap of $11.10 billion, a PE ratio of -35.00 and a beta of 1.03. Sociedad Química y Minera de Chile has a twelve month low of $32.24 and a twelve month high of $64.62. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average is $39.63 and its two-hundred day moving average is $40.52.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sociedad Química y Minera de Chile by 0.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after acquiring an additional 275 shares during the period. MFA Wealth Advisors LLC raised its position in Sociedad Química y Minera de Chile by 4.7% during the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock worth $292,000 after acquiring an additional 313 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Sociedad Química y Minera de Chile by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 401 shares during the period. Saturna Capital Corp raised its position in Sociedad Química y Minera de Chile by 0.8% during the third quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock worth $2,059,000 after acquiring an additional 407 shares during the period. Finally, Signaturefd LLC raised its position in Sociedad Química y Minera de Chile by 21.3% during the third quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 439 shares during the period. 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.