Sociedad Química y Minera de Chile (NYSE:SQM) Raised to “Sell” at StockNews.com

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

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

Sociedad Química y Minera de Chile Stock Down 3.5 %

Shares of SQM opened at $38.26 on Thursday. Sociedad Química y Minera de Chile has a fifty-two week low of $32.24 and a fifty-two week high of $64.62. The company’s fifty day moving average is $39.61 and its two-hundred day moving average is $40.59. The firm has a market cap of $10.93 billion, a PE 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

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. grew its stake in Sociedad Química y Minera de Chile by 396.2% during the 2nd quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 729 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Sociedad Química y Minera de Chile by 204.9% during the 2nd quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company’s stock valued at $84,000 after buying an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Sociedad Química y Minera de Chile by 47.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock worth $87,000 after buying an additional 683 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the third quarter worth $202,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in Sociedad Química y Minera de Chile by 216.4% in the second quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company’s stock valued at $207,000 after acquiring an additional 3,398 shares in the last quarter. 12.41% of the stock is owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Company Profile

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.