Scotiabank Analysts Give Sociedad Quimica y Minera de Chile (SQM) a $50.00 Price Target

Scotiabank set a $50.00 target price on Sociedad Quimica y Minera de Chile (NYSE:SQM) in a research report sent to investors on Tuesday, December 19th. The firm currently has a hold rating on the basic materials company’s stock.

A number of other equities analysts also recently issued reports on SQM. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a hold rating to a buy rating and set a $49.00 price target for the company in a report on Wednesday, August 23rd. BMO Capital Markets reaffirmed a market perform rating and issued a $45.00 price target (up from $35.00) on shares of Sociedad Quimica y Minera de Chile in a report on Tuesday, August 29th. Bank of America raised Sociedad Quimica y Minera de Chile from a neutral rating to a buy rating in a report on Wednesday, September 13th. Santander raised Sociedad Quimica y Minera de Chile from an underperform rating to a hold rating in a report on Wednesday, September 13th. Finally, downgraded Sociedad Quimica y Minera de Chile from a buy rating to a reduce rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Sociedad Quimica y Minera de Chile currently has an average rating of Hold and a consensus target price of $50.18.

Sociedad Quimica y Minera de Chile (NYSE SQM) traded up $2.16 during mid-day trading on Tuesday, hitting $63.90. 842,217 shares of the company were exchanged, compared to its average volume of 1,050,000. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.79 and a quick ratio of 2.31. The stock has a market capitalization of $16,480.00, a price-to-earnings ratio of 42.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.00. Sociedad Quimica y Minera de Chile has a 12-month low of $30.20 and a 12-month high of $64.00.

Several hedge funds have recently bought and sold shares of SQM. Commerzbank Aktiengesellschaft FI raised its stake in shares of Sociedad Quimica y Minera de Chile by 15.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 104,100 shares of the basic materials company’s stock worth $3,437,000 after purchasing an additional 14,100 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sociedad Quimica y Minera de Chile by 54.1% during the third quarter. Sei Investments Co. now owns 114,058 shares of the basic materials company’s stock worth $6,348,000 after purchasing an additional 40,046 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Sociedad Quimica y Minera de Chile by 81.8% during the second quarter. Advisors Asset Management Inc. now owns 28,595 shares of the basic materials company’s stock worth $944,000 after purchasing an additional 12,866 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Sociedad Quimica y Minera de Chile by 19.1% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 14,349 shares of the basic materials company’s stock worth $798,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of Sociedad Quimica y Minera de Chile by 2,867.0% during the second quarter. Citigroup Inc. now owns 85,688 shares of the basic materials company’s stock worth $2,830,000 after purchasing an additional 82,800 shares during the last quarter. 11.93% of the stock is owned by institutional investors and hedge funds.

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About Sociedad Quimica y Minera de Chile

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.

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

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