Sociedad Quimica y Minera de Chile (SQM) Given a $50.00 Price Target at Scotiabank

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

Several other brokerages have also recently issued reports on SQM. BMO Capital Markets increased their price target on shares of Sociedad Quimica y Minera de Chile to $60.00 and gave the stock an average rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Sociedad Quimica y Minera de Chile from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Saturday, November 18th. cut shares of Sociedad Quimica y Minera de Chile from a buy rating to a reduce rating in a research report on Wednesday, October 11th. ValuEngine cut shares of Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Santander raised shares of Sociedad Quimica y Minera de Chile from an underperform rating to a hold rating in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $50.18.

Shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) traded down $1.17 on Tuesday, hitting $62.73. 784,936 shares of the stock traded hands, compared to its average volume of 1,040,000. The firm has a market capitalization of $15,760.00, a PE ratio of 41.54, a PEG ratio of 0.97 and a beta of 1.00. Sociedad Quimica y Minera de Chile has a 1-year low of $30.20 and a 1-year high of $64.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.79 and a quick ratio of 2.31.

Hedge funds have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. purchased a new stake in shares of Sociedad Quimica y Minera de Chile during the second quarter worth approximately $116,000. Acrospire Investment Management LLC increased its stake in shares of Sociedad Quimica y Minera de Chile by 307.5% during the second quarter. Acrospire Investment Management LLC now owns 5,298 shares of the basic materials company’s stock worth $175,000 after buying an additional 3,998 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Sociedad Quimica y Minera de Chile during the second quarter worth approximately $204,000. Raymond James Trust N.A. purchased a new stake in shares of Sociedad Quimica y Minera de Chile during the third quarter worth approximately $220,000. Finally, Laurel Wealth Advisors Inc. increased its stake in shares of Sociedad Quimica y Minera de Chile by 6.6% during the second quarter. Laurel Wealth Advisors Inc. now owns 6,824 shares of the basic materials company’s stock worth $225,000 after buying an additional 423 shares during the period. Hedge funds and other institutional investors own 11.93% of the company’s stock.

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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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