Sociedad Quimica y Minera S.A. (NYSE:SQM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage presently has a $64.00 target price on the basic materials company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 7.02% from the company’s previous close.

According to Zacks, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world. “

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets increased their price target on Sociedad Quimica y Minera to $60.00 and gave the company an “average” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. lowered Sociedad Quimica y Minera from a “buy” rating to a “reduce” rating in a report on Wednesday, October 11th. Santander raised Sociedad Quimica y Minera from an “underperform” rating to a “hold” rating in a report on Wednesday, September 13th. Bank of America Corporation raised Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating in a report on Wednesday, September 13th. Finally, BidaskClub raised Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Sociedad Quimica y Minera presently has an average rating of “Buy” and an average target price of $50.22.

Shares of Sociedad Quimica y Minera (NYSE:SQM) opened at $59.80 on Friday. The company has a market capitalization of $14,860.00, a P/E ratio of 44.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.19 and a quick ratio of 2.47. Sociedad Quimica y Minera has a 12 month low of $26.68 and a 12 month high of $63.80.

Sociedad Quimica y Minera (NYSE:SQM) last announced its quarterly earnings data on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). Sociedad Quimica y Minera had a return on equity of 14.90% and a net margin of 16.28%. The company had revenue of $505.70 million for the quarter, compared to the consensus estimate of $500.49 million. equities research analysts expect that Sociedad Quimica y Minera will post 1.61 earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the stock. Invictus RG raised its position in Sociedad Quimica y Minera by 164.1% in the first quarter. Invictus RG now owns 3,072 shares of the basic materials company’s stock valued at $106,000 after purchasing an additional 1,909 shares during the last quarter. Pacad Investment Ltd. bought a new position in Sociedad Quimica y Minera in the second quarter valued at about $116,000. Financial Architects Inc raised its position in Sociedad Quimica y Minera by 18,723.8% in the first quarter. Financial Architects Inc now owns 3,953 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 3,932 shares during the last quarter. Quantbot Technologies LP bought a new position in Sociedad Quimica y Minera in the first quarter valued at about $136,000. Finally, Nomura Asset Management Co. Ltd. raised its position in Sociedad Quimica y Minera by 20.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 4,200 shares of the basic materials company’s stock valued at $144,000 after purchasing an additional 700 shares during the last quarter. Institutional investors and hedge funds own 14.43% 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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