Sociedad Quimica y Minera de Chile (NYSE:SQM) was downgraded by analysts at Scotiabank from a “sector perform” rating to a “sector underperform” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. They presently have a $20.00 price objective on the basic materials company’s stock, down from their previous price objective of $24.00. Scotiabank’s price objective would indicate a potential downside of 13.87% from the stock’s previous close.

SQM has been the topic of several other reports. Bank of America downgraded Sociedad Quimica y Minera de Chile from a “neutral” rating to an “underperform” rating in a research report on Tuesday, March 31st. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a “sell” rating to a “hold” rating in a research report on Tuesday, April 21st. HSBC lowered Sociedad Quimica y Minera de Chile from a “hold” rating to a “reduce” rating and set a $25.50 price objective on the stock. in a report on Wednesday, January 22nd. Finally, BMO Capital Markets decreased their price objective on Sociedad Quimica y Minera de Chile from $30.00 to $25.00 and set a “market perform” rating on the stock in a report on Thursday, April 2nd. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.64.

Shares of SQM stock traded down $0.66 during trading on Thursday, reaching $23.22. The company had a trading volume of 596,410 shares, compared to its average volume of 754,229. The firm’s 50 day simple moving average is $22.27 and its two-hundred day simple moving average is $25.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.45 and a quick ratio of 2.19. Sociedad Quimica y Minera de Chile has a one year low of $15.20 and a one year high of $33.30. The company has a market capitalization of $6.29 billion, a PE ratio of 25.96, a PEG ratio of 2.31 and a beta of 0.91.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last issued its quarterly earnings results on Tuesday, May 19th. The basic materials company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.06). The business had revenue of $392.00 million during the quarter, compared to the consensus estimate of $480.68 million. Sociedad Quimica y Minera de Chile had a return on equity of 11.35% and a net margin of 13.25%. Analysts forecast that Sociedad Quimica y Minera de Chile will post 1.05 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. acquired a new stake in Sociedad Quimica y Minera de Chile in the 4th quarter valued at $3,446,000. NEXT Financial Group Inc boosted its stake in Sociedad Quimica y Minera de Chile by 322.6% in the 4th quarter. NEXT Financial Group Inc now owns 2,016 shares of the basic materials company’s stock valued at $54,000 after buying an additional 1,539 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Sociedad Quimica y Minera de Chile by 1,454.1% in the 4th quarter. Quadrant Capital Group LLC now owns 2,067 shares of the basic materials company’s stock valued at $53,000 after buying an additional 1,934 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Sociedad Quimica y Minera de Chile by 376.7% in the 4th quarter. Penserra Capital Management LLC now owns 2,188 shares of the basic materials company’s stock valued at $61,000 after buying an additional 1,729 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Sociedad Quimica y Minera de Chile in the 4th quarter valued at $61,000. 10.91% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Quimica y Minera de Chile Company Profile

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

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