Zacks Investment Research cut shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) from a hold rating to a strong sell rating in a report published on Wednesday.

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. “

A number of other research analysts also recently weighed in on SQM. Deutsche Bank set a $53.00 price target on Sociedad Quimica y Minera de Chile and gave the company a buy rating in a research note on Tuesday, November 13th. JPMorgan Chase & Co. set a $52.00 price target on Sociedad Quimica y Minera de Chile and gave the company a buy rating in a research note on Friday, November 16th. HSBC raised Sociedad Quimica y Minera de Chile from a hold rating to a buy rating in a research note on Monday, December 3rd. Santander raised Sociedad Quimica y Minera de Chile from a hold rating to a buy rating in a research note on Wednesday, December 12th. Finally, Citigroup downgraded Sociedad Quimica y Minera de Chile from a buy rating to a neutral rating and cut their price target for the company from $53.00 to $41.00 in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $47.17.

SQM stock opened at $40.81 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.67 and a current ratio of 4.32. The firm has a market capitalization of $10.74 billion, a PE ratio of 25.04, a P/E/G ratio of 1.35 and a beta of 1.10. Sociedad Quimica y Minera de Chile has a twelve month low of $36.57 and a twelve month high of $58.69.

Institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. acquired a new stake in Sociedad Quimica y Minera de Chile during the 4th quarter worth $38,000. Federated Investors Inc. PA acquired a new stake in Sociedad Quimica y Minera de Chile during the 3rd quarter worth $70,000. Virtus ETF Advisers LLC raised its stake in Sociedad Quimica y Minera de Chile by 145.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 1,736 shares of the basic materials company’s stock worth $66,000 after buying an additional 1,028 shares during the period. Lavaca Capital LLC acquired a new stake in Sociedad Quimica y Minera de Chile during the 4th quarter worth $76,000. Finally, Financial Gravity Companies Inc. acquired a new stake in Sociedad Quimica y Minera de Chile during the 4th quarter worth $112,000. 11.11% of the stock is currently owned by institutional investors and hedge funds.

About Sociedad Quimica y Minera de Chile

Sociedad QuĂ­mica 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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