Sociedad Quimica y Minera de Chile (SQM) Rating Lowered to Strong Sell at Zacks Investment Research

Sociedad Quimica y Minera de Chile (NYSE:SQM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.

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. “

SQM has been the topic of a number of other research reports. Bank of America downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “neutral” rating in a research note on Thursday, March 7th. Deutsche Bank set a $53.00 price target on Sociedad Quimica y Minera de Chile and gave the stock a “buy” rating in a research note on Tuesday, November 13th. JPMorgan Chase & Co. downgraded Sociedad Quimica y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $51.00 to $43.00 in a research note on Friday, March 1st. Santander upgraded Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating in a research note on Wednesday, December 12th. Finally, Citigroup downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “neutral” rating and lowered their target price for the company from $53.00 to $41.00 in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $47.17.

NYSE:SQM opened at $40.28 on Wednesday. The company has a market cap of $10.34 billion, a P/E ratio of 24.71, a PEG ratio of 1.35 and a beta of 1.10. The company has a current ratio of 4.32, a quick ratio of 2.67 and a debt-to-equity ratio of 0.62. Sociedad Quimica y Minera de Chile has a 52-week low of $36.57 and a 52-week high of $58.69.

Several hedge funds have recently made changes to their positions in the business. Jennison Associates LLC grew its stake in shares of Sociedad Quimica y Minera de Chile by 1.9% in the 4th quarter. Jennison Associates LLC now owns 24,239 shares of the basic materials company’s stock valued at $928,000 after purchasing an additional 461 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 7.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,304 shares of the basic materials company’s stock valued at $394,000 after buying an additional 681 shares in the last quarter. Krane Funds Advisors LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 7.9% in the third quarter. Krane Funds Advisors LLC now owns 10,858 shares of the basic materials company’s stock valued at $496,000 after buying an additional 795 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Sociedad Quimica y Minera de Chile by 18.6% in the fourth quarter. Geode Capital Management LLC now owns 6,198 shares of the basic materials company’s stock valued at $237,000 after buying an additional 970 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Sociedad Quimica y Minera de Chile in the fourth quarter valued at approximately $38,000. Institutional investors own 11.11% of the company’s stock.

About Sociedad Quimica y Minera de Chile

Sociedad Química y Minera de Chile SA produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, industrial chemicals, potassium, and other products and services. The company offers specialty plant nutrients, including potassium nitrate, sodium nitrate, sodium potassium nitrate, specialty mixes, and other specialty fertilizers for crops, such as vegetables, fruits, and flowers under the Ultrasol, Qrop, Speedfol, and Allganic brands.

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