Sociedad Quimica y Minera de Chile (NYSE:SQM)‘s stock had its “hold” rating reaffirmed by stock analysts at Scotiabank in a note issued to investors on Thursday. They currently have a $60.00 price objective on the basic materials company’s stock. Scotiabank’s price objective would indicate a potential upside of 1.66% from the stock’s previous close.

SQM has been the topic of a number of other reports. Deutsche Bank raised Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and upped their price target for the stock from $52.00 to $70.00 in a research note on Thursday. Citigroup raised Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Wednesday. ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Saturday, November 18th. Finally, BMO Capital Markets upped their price target on Sociedad Quimica y Minera de Chile to $60.00 and gave the stock an “average” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $58.58.

Shares of Sociedad Quimica y Minera de Chile (NYSE SQM) traded down $0.53 during trading hours on Thursday, hitting $59.02. The stock had a trading volume of 4,226,187 shares, compared to its average volume of 1,387,933. The firm has a market cap of $15,540.00, a P/E ratio of 39.09, a price-to-earnings-growth ratio of 0.92 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.79 and a quick ratio of 2.31. Sociedad Quimica y Minera de Chile has a 12 month low of $30.82 and a 12 month high of $64.20.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last announced its quarterly earnings data on Wednesday, November 22nd. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.43. Sociedad Quimica y Minera de Chile had a return on equity of 17.58% and a net margin of 18.52%. research analysts predict that Sociedad Quimica y Minera de Chile will post 1.64 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of SQM. Global X MANAGEMENT CO LLC raised its stake in shares of Sociedad Quimica y Minera de Chile by 135.5% in the third quarter. Global X MANAGEMENT CO LLC now owns 2,279,880 shares of the basic materials company’s stock worth $126,898,000 after purchasing an additional 1,311,641 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Sociedad Quimica y Minera de Chile by 31.9% in the second quarter. Goldman Sachs Group Inc. now owns 1,298,535 shares of the basic materials company’s stock worth $42,877,000 after purchasing an additional 313,786 shares during the last quarter. American Century Companies Inc. purchased a new stake in shares of Sociedad Quimica y Minera de Chile in the third quarter worth approximately $13,601,000. Bank of New York Mellon Corp raised its stake in shares of Sociedad Quimica y Minera de Chile by 75.1% in the third quarter. Bank of New York Mellon Corp now owns 561,964 shares of the basic materials company’s stock worth $31,278,000 after purchasing an additional 241,114 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware purchased a new stake in shares of Sociedad Quimica y Minera de Chile in the third quarter worth approximately $12,680,000. 11.93% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/01/18/sociedad-quimica-y-minera-de-chiles-sqm-hold-rating-reiterated-at-scotiabank.html.

About Sociedad Quimica y Minera de Chile

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 de Chile (NYSE:SQM)

Receive News & Ratings for Sociedad Quimica y Minera de Chile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sociedad Quimica y Minera de Chile and related companies with MarketBeat.com's FREE daily email newsletter.