Sociedad Quimica y Minera de Chile (NYSE:SQM) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, The Fly reports.
Several other equities analysts have also recently issued reports on SQM. Deutsche Bank set a $53.00 price objective on shares of Sociedad Quimica y Minera de Chile and gave the stock a “buy” rating in a research note on Tuesday, November 13th. JPMorgan Chase & Co. set a $52.00 target price on shares of Sociedad Quimica y Minera de Chile and gave the stock a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research downgraded shares of Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. HSBC raised shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating in a research report on Monday, December 3rd. Finally, Santander raised shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating in a research report on Wednesday, December 12th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $47.17.
Get Sociedad Quimica y Minera de Chile alerts:Shares of SQM traded down $0.89 during mid-day trading on Thursday, hitting $37.64. The company’s stock had a trading volume of 920,020 shares, compared to its average volume of 689,061. The stock has a market capitalization of $11.68 billion, a P/E ratio of 23.09, a P/E/G ratio of 0.95 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.34 and a quick ratio of 2.64. Sociedad Quimica y Minera de Chile has a fifty-two week low of $36.70 and a fifty-two week high of $58.69.
Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Sociedad Quimica y Minera de Chile by 106.9% in the fourth quarter. FMR LLC now owns 2,126,310 shares of the basic materials company’s stock worth $81,438,000 after acquiring an additional 1,098,410 shares in the last quarter. Earnest Partners LLC purchased a new position in shares of Sociedad Quimica y Minera de Chile in the third quarter worth approximately $89,882,000. Standard Life Aberdeen plc increased its position in shares of Sociedad Quimica y Minera de Chile by 0.3% in the fourth quarter. Standard Life Aberdeen plc now owns 1,927,000 shares of the basic materials company’s stock worth $75,008,000 after acquiring an additional 5,400 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Sociedad Quimica y Minera de Chile by 11.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,449,337 shares of the basic materials company’s stock worth $55,510,000 after purchasing an additional 154,410 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of Sociedad Quimica y Minera de Chile by 166.6% during the third quarter. Schroder Investment Management Group now owns 1,218,808 shares of the basic materials company’s stock worth $55,724,000 after purchasing an additional 761,708 shares during the period. 10.84% of the stock is currently owned by institutional investors and hedge funds.
About Sociedad Quimica y Minera de Chile
Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.
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