Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Receives Average Recommendation of “Hold” from Brokerages

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) have been given an average recommendation of “Hold” by the eight analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $45.56.

A number of brokerages have issued reports on SQM. Jefferies Financial Group cut their target price 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. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. The Goldman Sachs Group raised Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a research report on Friday, August 9th. Bank of America reduced their price target 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 report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $44.00 in a report on Friday, October 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new stake in Sociedad Química y Minera de Chile in the third quarter worth approximately $560,000. MML Investors Services LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the 3rd quarter worth $202,000. State Street Corp lifted its holdings in shares of Sociedad Química y Minera de Chile by 8.9% in the third quarter. State Street Corp now owns 265,545 shares of the basic materials company’s stock valued at $11,068,000 after buying an additional 21,778 shares during the period. Concentric Capital Strategies LP bought a new position in Sociedad Química y Minera de Chile during the third quarter valued at about $4,213,000. Finally, Erste Asset Management GmbH acquired a new position in Sociedad Química y Minera de Chile during the third quarter worth about $834,000. 12.41% of the stock is currently owned by institutional investors.

Sociedad Química y Minera de Chile Stock Down 0.3 %

SQM stock opened at $38.46 on Friday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of -34.65 and a beta of 1.03. Sociedad Química y Minera de Chile has a 1-year low of $32.24 and a 1-year high of $64.62. The firm has a fifty day moving average price of $39.64 and a two-hundred day moving average price of $40.44. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05.

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.