Sociedad Quimica y Minera S.A. (NYSE:SQM) was upgraded by investment analysts at Bank of America Corporation from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports.

A number of other research analysts have also recently weighed in on SQM. BidaskClub raised shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets reaffirmed a “hold” rating and issued a $35.00 price objective on shares of Sociedad Quimica y Minera in a report on Friday, July 7th. Zacks Investment Research raised shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Wednesday, June 21st. Finally, Deutsche Bank AG lifted their price objective on shares of Sociedad Quimica y Minera from $36.00 to $38.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.18.

Shares of Sociedad Quimica y Minera (SQM) traded up 1.97% during midday trading on Wednesday, hitting $55.39. 768,339 shares of the stock were exchanged. The firm’s 50-day moving average is $44.30 and its 200-day moving average is $37.24. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 42.74 and a beta of 1.03. Sociedad Quimica y Minera has a 12 month low of $24.75 and a 12 month high of $56.00.

Sociedad Quimica y Minera (NYSE:SQM) last released its quarterly earnings data on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Sociedad Quimica y Minera had a net margin of 16.28% and a return on equity of 14.81%. The firm had revenue of $505.70 million during the quarter, compared to analysts’ expectations of $500.49 million. Equities research analysts predict that Sociedad Quimica y Minera will post $1.59 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Sociedad Quimica y Minera by 0.8% in the first quarter. PNC Financial Services Group Inc. now owns 10,248 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 78 shares during the period. World Asset Management Inc grew its position in shares of Sociedad Quimica y Minera by 1.1% in the first quarter. World Asset Management Inc now owns 7,468 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 84 shares during the period. Comerica Bank grew its position in shares of Sociedad Quimica y Minera by 1.3% in the first quarter. Comerica Bank now owns 6,900 shares of the basic materials company’s stock valued at $242,000 after purchasing an additional 88 shares during the period. Jennison Associates LLC grew its position in shares of Sociedad Quimica y Minera by 0.8% in the second quarter. Jennison Associates LLC now owns 37,080 shares of the basic materials company’s stock valued at $1,224,000 after purchasing an additional 278 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Sociedad Quimica y Minera by 0.3% in the second quarter. Van ECK Associates Corp now owns 138,379 shares of the basic materials company’s stock valued at $4,569,000 after purchasing an additional 386 shares during the period. Institutional investors and hedge funds own 13.65% of the company’s stock.

Sociedad Quimica y Minera 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.

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

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