Sociedad Química y Minera de Chile (NYSE:SQM) Given New $31.00 Price Target at Deutsche Bank Aktiengesellschaft

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price cut by Deutsche Bank Aktiengesellschaft from $35.00 to $31.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the basic materials company’s stock.

Several other research analysts also recently issued reports on SQM. Jefferies Financial Group lowered their price objective on 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. The Goldman Sachs Group raised shares of 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 cut their price target on shares of 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 initiated coverage on shares of Sociedad Química y Minera de Chile in a research report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $55.00 to $44.00 in a research note on Friday, October 11th. Two investment 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. Based on data from MarketBeat.com, Sociedad Química y Minera de Chile presently has an average rating of “Hold” and a consensus target price of $48.06.

Sociedad Química y Minera de Chile Stock Down 3.5 %

NYSE SQM opened at $38.26 on Thursday. The business has a fifty day moving average price of $39.61 and a two-hundred day moving average price of $40.59. The stock has a market capitalization of $10.93 billion, a PE ratio of -34.47 and a beta of 1.03. 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 has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 1.47.

Institutional Investors Weigh In On Sociedad Química y Minera de Chile

Several hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sociedad Química y Minera de Chile by 0.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock valued at $3,876,000 after buying an additional 275 shares during the last quarter. MFA Wealth Advisors LLC boosted its position in shares of Sociedad Química y Minera de Chile by 4.7% in the 3rd quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 313 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Sociedad Química y Minera de Chile by 3.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 401 shares in the last quarter. Saturna Capital Corp raised its holdings in Sociedad Química y Minera de Chile by 0.8% in the 3rd quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock worth $2,059,000 after acquiring an additional 407 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Sociedad Química y Minera de Chile by 21.3% during the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 439 shares during the period. 12.41% of the stock is currently owned by institutional investors.

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.