Sociedad Quimica y Minera de Chile SA (NYSE:SQM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “

SQM has been the topic of a number of other research reports. HSBC raised Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a report on Wednesday, October 19th. Deutsche Bank AG assumed coverage on Sociedad Quimica y Minera de Chile SA in a research report on Tuesday, November 15th. They set a “buy” rating and a $33.00 price target on the stock. TheStreet upgraded Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. BMO Capital Markets assumed coverage on Sociedad Quimica y Minera de Chile SA in a research report on Tuesday, November 8th. They set a “market perform” rating and a $30.00 price target on the stock. Finally, Scotiabank cut Sociedad Quimica y Minera de Chile SA from an “outperform” rating to a “sector perform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.62.

Analyst Recommendations for Sociedad Quimica y Minera de Chile SA (NYSE:SQM)

Shares of Sociedad Quimica y Minera de Chile SA (NYSE:SQM) opened at 28.62 on Tuesday. The stock has a market capitalization of $7.60 billion, a P/E ratio of 30.22 and a beta of 1.14. Sociedad Quimica y Minera de Chile SA has a 52-week low of $14.31 and a 52-week high of $30.06. The firm’s 50-day moving average price is $28.19 and its 200-day moving average price is $25.65.

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A number of hedge funds have recently bought and sold shares of SQM. TD Asset Management Inc. acquired a new stake in Sociedad Quimica y Minera de Chile SA during the second quarter valued at approximately $1,016,000. SG Americas Securities LLC boosted its stake in Sociedad Quimica y Minera de Chile SA by 131.9% in the second quarter. SG Americas Securities LLC now owns 13,112 shares of the company’s stock valued at $324,000 after buying an additional 7,459 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in Sociedad Quimica y Minera de Chile SA during the second quarter valued at approximately $10,163,000. Societe Generale acquired a new stake in Sociedad Quimica y Minera de Chile SA during the second quarter valued at approximately $324,000. Finally, Bank of New York Mellon Corp boosted its stake in Sociedad Quimica y Minera de Chile SA by 44.4% in the second quarter. Bank of New York Mellon Corp now owns 72,819 shares of the company’s stock valued at $1,800,000 after buying an additional 22,381 shares in the last quarter. Hedge funds and other institutional investors own 18.88% of the company’s stock.

Sociedad Quimica y Minera de Chile SA Company Profile

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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