Sociedad Quimica y Minera de Chile (SQM) Upgraded to “Buy” at Deutsche Bank

Sociedad Quimica y Minera de Chile (NYSE:SQM) was upgraded by investment analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a $70.00 price target on the basic materials company’s stock, up from their prior price target of $52.00. Deutsche Bank’s price objective points to a potential upside of 22.96% from the stock’s previous close.

A number of other research firms have also weighed in on SQM. BMO Capital Markets lifted their price objective on shares of Sociedad Quimica y Minera de Chile 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. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Saturday, November 18th. lowered shares of Sociedad Quimica y Minera de Chile from a “buy” rating to a “reduce” rating in a research note on Wednesday, October 11th. Citigroup upgraded shares of Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a research note on Wednesday. Finally, Scotiabank set a $50.00 price objective on shares of Sociedad Quimica y Minera de Chile and gave the company a “hold” rating in a research note on Tuesday, December 19th. 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 assigned a strong buy rating to the company. Sociedad Quimica y Minera de Chile has an average rating of “Buy” and an average price target of $58.58.

Sociedad Quimica y Minera de Chile (NYSE:SQM) traded down $2.09 during trading on Thursday, reaching $56.93. 2,533,922 shares of the company were exchanged, compared to its average volume of 970,035. Sociedad Quimica y Minera de Chile has a fifty-two week low of $30.82 and a fifty-two week high of $64.20. The stock has a market cap of $14,983.80, a price-to-earnings ratio of 37.70, a price-to-earnings-growth ratio of 0.89 and a beta of 1.01. 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 (NYSE:SQM) last released its quarterly earnings data on Wednesday, November 22nd. The basic materials company reported $0.43 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.43. Sociedad Quimica y Minera de Chile had a net margin of 18.52% and a return on equity of 17.58%. equities research analysts anticipate that Sociedad Quimica y Minera de Chile will post 1.66 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQM. Schwab Charles Investment Management Inc. grew its position in shares of Sociedad Quimica y Minera de Chile by 20.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 88,490 shares of the basic materials company’s stock valued at $2,922,000 after purchasing an additional 14,880 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Sociedad Quimica y Minera de Chile by 118.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 320,850 shares of the basic materials company’s stock valued at $10,594,000 after purchasing an additional 173,841 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Sociedad Quimica y Minera de Chile by 31.1% during the 2nd quarter. Wells Fargo & Company MN now owns 106,013 shares of the basic materials company’s stock valued at $3,500,000 after purchasing an additional 25,151 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Sociedad Quimica y Minera de Chile by 227.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 23,860 shares of the basic materials company’s stock valued at $788,000 after purchasing an additional 16,569 shares in the last quarter. Finally, Stevens Capital Management LP purchased a new position in shares of Sociedad Quimica y Minera de Chile during the 2nd quarter valued at $983,000. Hedge funds and other institutional investors own 11.93% of the company’s stock.

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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)



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