Brokerages Set Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Price Target at $45.56

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has earned an average rating of “Hold” from the eight analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.56.

SQM has been the subject of a number of recent research reports. Bank of America cut their target price on 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. Deutsche Bank Aktiengesellschaft reduced 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 report on Thursday, November 21st. Scotiabank dropped their price target 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. 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 for the company in a research note on Monday, August 26th. Finally, The Goldman Sachs Group upgraded Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Friday, August 9th.

Sociedad Química y Minera de Chile Stock Up 0.1 %

NYSE SQM opened at $38.06 on Friday. 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 debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94. The stock has a market cap of $10.87 billion, a PE ratio of -34.29 and a beta of 1.03. The firm has a 50-day simple moving average of $39.56 and a 200 day simple moving average of $40.03.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several institutional investors have recently bought and sold shares of SQM. Van ECK Associates Corp raised its holdings in shares of Sociedad Química y Minera de Chile by 41.6% in the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock valued at $36,661,000 after purchasing an additional 264,324 shares during the last quarter. Marshall Wace LLP bought a new position in Sociedad Química y Minera de Chile in the second quarter valued at $8,592,000. Concentric Capital Strategies LP acquired a new stake in Sociedad Química y Minera de Chile in the 3rd quarter valued at $4,213,000. Prudential PLC lifted its position in Sociedad Química y Minera de Chile by 18.9% during the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock worth $24,961,000 after buying an additional 97,479 shares in the last quarter. Finally, Unison Advisors LLC acquired a new position in shares of Sociedad Química y Minera de Chile during the 2nd quarter worth about $2,547,000. 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.