Sociedad Química y Minera de Chile S.A. (NYSE:SQM) Receives $45.56 Consensus PT from Brokerages

Shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) have received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, MarketBeat.com reports. One investment 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 1 year target price among brokers that have covered the stock in the last year is $45.56.

SQM has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $44.00 in a research report on Friday, October 11th. 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 on the stock in a report on Monday, November 25th. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a report on Thursday, November 21st. Finally, 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 on the stock in a research note on Thursday, November 21st.

Sociedad Química y Minera de Chile Stock Performance

Sociedad Química y Minera de Chile stock opened at $37.34 on Wednesday. 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 has a 12 month low of $32.24 and a 12 month high of $64.62. The company has a market cap of $10.67 billion, a price-to-earnings ratio of -33.64 and a beta of 1.04. The stock’s 50-day moving average is $38.65 and its 200-day moving average is $39.07.

Institutional Trading of Sociedad Química y Minera de Chile

Hedge funds and other institutional investors have recently made changes to their positions in the stock. abrdn plc raised its stake in Sociedad Química y Minera de Chile by 2.7% during the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after buying an additional 31,955 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Sociedad Química y Minera de Chile by 41.6% during the 2nd quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company’s stock valued at $36,661,000 after acquiring an additional 264,324 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Sociedad Química y Minera de Chile by 2.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock worth $36,984,000 after purchasing an additional 24,999 shares during the last quarter. Prudential PLC boosted its holdings in Sociedad Química y Minera de Chile by 18.9% in the second quarter. Prudential PLC now owns 612,538 shares of the basic materials company’s stock worth $24,961,000 after purchasing an additional 97,479 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Sociedad Química y Minera de Chile by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock valued at $19,921,000 after purchasing an additional 13,756 shares during the last quarter. Institutional investors own 12.41% of the company’s stock.

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.