Sociedad Química y Minera de Chile (NYSE:SQM) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.69 and traded as high as $39.05. Sociedad Química y Minera de Chile shares last traded at $38.91, with a volume of 543,857 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SQM shares. JPMorgan Chase & Co. lowered Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $55.00 to $44.00 in a research report on Friday, October 11th. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, November 21st. Finally, Scotiabank reduced their target price on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.56.

Sociedad Química y Minera de Chile Stock Up 1.4 %

The firm has a market cap of $11.11 billion, a PE ratio of -35.05 and a beta of 1.03. 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 stock has a fifty day simple moving average of $38.17 and a two-hundred day simple moving average of $38.69.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sociedad Química y Minera de Chile by 47.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock valued at $87,000 after acquiring an additional 683 shares in the last quarter. Signaturefd LLC grew its position in Sociedad Química y Minera de Chile by 21.3% in 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 in the last quarter. Blue Trust Inc. increased its stake in Sociedad Química y Minera de Chile by 216.6% in the third quarter. Blue Trust Inc. now owns 2,891 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,978 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Sociedad Química y Minera de Chile during the 3rd quarter valued at about $202,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Sociedad Química y Minera de Chile by 216.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company’s stock valued at $207,000 after buying an additional 3,398 shares in the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

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.