Today, Sociedad Quimica y Minera de Chile SA (SQM) Decreased to Sector Perform at Scotiabank

Today, Sociedad Quimica y Minera de Chile SA (SQM) Decreased to Sector Perform at Scotiabank

Scotiabank lowered shares of Sociedad Quimica y Minera de Chile SA (NYSE:SQM) from an outperform rating to a sector perform rating in a research report released on Monday, The Fly reports.

SQM has been the subject of a number of other research reports. HSBC raised shares of 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 research note on Wednesday, October 19th. Zacks Investment Research downgraded shares of Sociedad Quimica y Minera de Chile SA from a hold rating to a strong sell rating in a research note on Friday, September 30th. Deutsche Bank AG initiated coverage on shares of Sociedad Quimica y Minera de Chile SA in a research report on Tuesday, November 15th. They set a buy rating and a $33.00 target price for the company. TheStreet raised shares of Sociedad Quimica y Minera de Chile SA from a hold rating to a buy rating in a research report on Thursday, August 25th. Finally, BMO Capital Markets initiated coverage on shares of Sociedad Quimica y Minera de Chile SA in a research report on Tuesday, November 8th. They set a market perform rating and a $30.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Sociedad Quimica y Minera de Chile SA presently has an average rating of Hold and an average price target of $28.62.

Shares of Sociedad Quimica y Minera de Chile SA (NYSE:SQM) opened at 28.01 on Monday. Sociedad Quimica y Minera de Chile SA has a 12-month low of $14.31 and a 12-month high of $30.06. The firm’s 50-day moving average is $28.19 and its 200-day moving average is $25.65. The firm has a market cap of $7.37 billion, a PE ratio of 35.59 and a beta of 1.14.

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in Sociedad Quimica y Minera de Chile SA by 272.6% in the second quarter. US Bancorp DE now owns 4,784 shares of the company’s stock worth $119,000 after buying an additional 3,500 shares in the last quarter. Nordea Investment Management AB boosted its position in Sociedad Quimica y Minera de Chile SA by 69.0% in the second quarter. Nordea Investment Management AB now owns 6,522 shares of the company’s stock worth $161,000 after buying an additional 2,663 shares in the last quarter. World Asset Management Inc bought a new position in Sociedad Quimica y Minera de Chile SA during the third quarter worth $217,000. Advisory Services Network LLC bought a new position in Sociedad Quimica y Minera de Chile SA during the second quarter worth $247,000. Finally, Capital Fund Management S.A. bought a new position in Sociedad Quimica y Minera de Chile SA during the third quarter worth $264,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.

About Sociedad Quimica y Minera de Chile SA

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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