Sociedad Química y Minera de Chile (NYSE:SQM) Price Target Lowered to $50.00 at Scotiabank

Sociedad Química y Minera de Chile (NYSE:SQM) had its target price decreased by Scotiabank from $60.00 to $50.00 in a research note issued to investors on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the basic materials company’s stock.

SQM has been the subject of several other research reports. Jefferies Financial Group lowered their target price on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a report on Monday, August 26th. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, November 21st. 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, StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $45.56.

Sociedad Química y Minera de Chile Price Performance

Sociedad Química y Minera de Chile stock opened at $38.85 on Monday. The firm has a 50-day moving average price of $39.63 and a 200-day moving average price of $40.52. The firm has a market capitalization of $11.10 billion, a PE ratio of -35.00 and a beta of 1.03. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile has a 12-month low of $32.24 and a 12-month high of $64.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of Sociedad Química y Minera de Chile by 396.2% in the 2nd quarter. Blue Trust Inc. now owns 913 shares of the basic materials company’s stock worth $37,000 after buying an additional 729 shares during the last quarter. Signaturefd LLC grew its position in shares of Sociedad Química y Minera de Chile by 204.9% in the 2nd quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company’s stock worth $84,000 after buying an additional 1,385 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Sociedad Química y Minera de Chile by 47.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company’s stock worth $87,000 after buying an additional 683 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Sociedad Química y Minera de Chile in the 3rd quarter worth approximately $202,000. Finally, DekaBank Deutsche Girozentrale grew its position in Sociedad Química y Minera de Chile by 216.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company’s stock worth $207,000 after purchasing an additional 3,398 shares during the last quarter. Hedge funds and other 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.