Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price Down 5.5% – Here’s Why

Sociedad Química y Minera de Chile S.A. (NYSE:SQM)’s stock price fell 5.5% during trading on Wednesday . The company traded as low as $38.01 and last traded at $37.81. 785,092 shares changed hands during trading, a decline of 23% from the average session volume of 1,014,380 shares. The stock had previously closed at $40.00.

Analyst Upgrades and Downgrades

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

Sociedad Química y Minera de Chile Stock Performance

The stock’s 50-day moving average price is $38.60 and its 200 day moving average price is $38.50. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74. The company has a market cap of $11.05 billion, a P/E ratio of -34.85, a price-to-earnings-growth ratio of 5.34 and a beta of 1.04.

Hedge Funds Weigh In On Sociedad Química y Minera de Chile

Several large investors have recently added to or reduced their stakes in SQM. Kestra Investment Management LLC bought a new stake in Sociedad Química y Minera de Chile during the fourth quarter worth about $39,000. Jones Financial Companies Lllp increased its holdings in Sociedad Química y Minera de Chile by 803.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 956 shares in the last quarter. R Squared Ltd bought a new position in Sociedad Química y Minera de Chile in the 4th quarter valued at $58,000. Avior Wealth Management LLC boosted its stake in Sociedad Química y Minera de Chile by 104.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Sociedad Química y Minera de Chile by 47.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock valued at $87,000 after buying an additional 683 shares in the last quarter. Institutional investors and hedge funds 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.