Trade Report: Today: Sociedad Quimica y Minera de Chile SA (SQM) Lowered by Scotiabank to Sector Perform

Today: Sociedad Quimica y Minera de Chile SA (SQM) Lowered by Scotiabank to Sector Perform

Sociedad Quimica y Minera de Chile SA (NYSE:SQM) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a note issued to investors on Monday, The Fly reports.

Other research analysts have also issued research reports about the company. Deutsche Bank AG initiated coverage on Sociedad Quimica y Minera de Chile SA in a report on Tuesday, November 15th. They set a “buy” rating and a $33.00 price objective for the company. HSBC raised Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Wednesday, October 19th. TheStreet raised Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating in a report on Thursday, August 25th. Zacks Investment Research lowered Sociedad Quimica y Minera de Chile SA from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Finally, BMO Capital Markets initiated coverage on Sociedad Quimica y Minera de Chile SA in a report on Tuesday, November 8th. They set a “market perform” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.62.

Sociedad Quimica y Minera de Chile SA (NYSE:SQM) traded down 0.64% during mid-day trading on Monday, reaching $27.83. 116,616 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $28.17 and a 200-day moving average of $25.53. Sociedad Quimica y Minera de Chile SA has a one year low of $14.31 and a one year high of $30.06. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 35.36 and a beta of 1.14.

Hedge funds have recently made changes to their positions in the stock. Capstone Asset Management Co. increased its stake in shares of Sociedad Quimica y Minera de Chile SA by 0.6% in the third quarter. Capstone Asset Management Co. now owns 14,383 shares of the company’s stock valued at $387,000 after buying an additional 80 shares during the last quarter. Henderson Group PLC increased its stake in shares of Sociedad Quimica y Minera de Chile SA by 1.2% in the third quarter. Henderson Group PLC now owns 15,580 shares of the company’s stock valued at $419,000 after buying an additional 180 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Sociedad Quimica y Minera de Chile SA by 1.8% in the second quarter. Advisors Asset Management Inc. now owns 17,060 shares of the company’s stock valued at $422,000 after buying an additional 300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Sociedad Quimica y Minera de Chile SA by 0.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 64,890 shares of the company’s stock valued at $1,746,000 after buying an additional 400 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Sociedad Quimica y Minera de Chile SA by 0.6% in the third quarter. Northern Trust Corp now owns 233,778 shares of the company’s stock valued at $6,289,000 after buying an additional 1,422 shares during the last quarter. Hedge funds and other institutional investors own 18.88% of the company’s stock.

Sociedad Quimica y Minera de Chile SA Company Profile

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.

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