Sociedad Quimica y Minera S.A. (NYSE:SQM) was downgraded by equities research analysts at HSBC Holdings plc from a “buy” rating to a “reduce” rating in a research note issued to investors on Wednesday, The Fly reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Wednesday, August 23rd. Bank of America Corporation upgraded Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 13th. BidaskClub upgraded Sociedad Quimica y Minera from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. BMO Capital Markets restated a “hold” rating and issued a $35.00 price target on shares of Sociedad Quimica y Minera in a research report on Friday, July 7th. Finally, Santander upgraded Sociedad Quimica y Minera from an “underperform” rating to a “hold” rating in a research report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Sociedad Quimica y Minera has a consensus rating of “Buy” and an average target price of $42.18.

Shares of Sociedad Quimica y Minera (SQM) opened at 58.84 on Wednesday. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 45.40 and a beta of 1.07. Sociedad Quimica y Minera has a one year low of $26.28 and a one year high of $63.80. The company has a 50-day moving average of $53.08 and a 200 day moving average of $40.72.

Sociedad Quimica y Minera (NYSE:SQM) last released its earnings results on Wednesday, August 23rd. The basic materials company reported $0.38 EPS 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 14.90%. The business had revenue of $505.70 million during the quarter, compared to analyst estimates of $500.49 million. On average, equities analysts forecast that Sociedad Quimica y Minera will post $1.60 earnings per share for the current fiscal year.

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Eqis Capital Management Inc. grew its holdings in Sociedad Quimica y Minera by 43.5% in the 3rd quarter. Eqis Capital Management Inc. now owns 29,653 shares of the basic materials company’s stock valued at $1,650,000 after buying an additional 8,986 shares during the period. Banco BTG Pactual S.A. purchased a new stake in Sociedad Quimica y Minera in the 2nd quarter valued at about $523,000. Dynamic Technology Lab Private Ltd grew its holdings in Sociedad Quimica y Minera by 213.4% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 34,004 shares of the basic materials company’s stock valued at $1,122,000 after buying an additional 23,153 shares during the period. Laurel Wealth Advisors Inc. grew its holdings in Sociedad Quimica y Minera by 6.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 6,824 shares of the basic materials company’s stock valued at $225,000 after buying an additional 423 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Sociedad Quimica y Minera by 83.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 381,604 shares of the basic materials company’s stock valued at $12,601,000 after buying an additional 173,834 shares during the period. Institutional investors own 13.68% of the company’s stock.

About Sociedad Quimica y Minera

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

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