Sociedad Quimica y Minera de Chile (SQM) Lifted to Buy at Citigroup

Citigroup upgraded shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat reports.

Several other research firms have also recently commented on SQM. BMO Capital Markets raised their price target on Sociedad Quimica y Minera de Chile to $60.00 and gave the company an average rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised 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. downgraded Sociedad Quimica y Minera de Chile from a buy rating to a reduce rating in a research note on Wednesday, October 11th. Scotiabank set a $50.00 price objective on Sociedad Quimica y Minera de Chile and gave the company a hold rating in a research note on Tuesday, December 19th. Finally, ValuEngine downgraded Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $58.58.

Sociedad Quimica y Minera de Chile (NYSE:SQM) traded down $0.53 on Wednesday, hitting $59.02. The stock had a trading volume of 4,226,187 shares, compared to its average volume of 1,120,000. The company has a quick ratio of 2.31, a current ratio of 3.79 and a debt-to-equity ratio of 0.45. The firm has a market cap of $15,540.00, a PE ratio of 39.09, a P/E/G ratio of 0.92 and a beta of 1.00. Sociedad Quimica y Minera de Chile has a 1-year low of $30.77 and a 1-year high of $64.20.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Wednesday, November 22nd. The basic materials company reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Sociedad Quimica y Minera de Chile had a return on equity of 17.58% and a net margin of 18.52%. sell-side analysts expect that Sociedad Quimica y Minera de Chile will post 1.64 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQM. Global X MANAGEMENT CO LLC increased its stake in Sociedad Quimica y Minera de Chile by 135.5% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,279,880 shares of the basic materials company’s stock valued at $126,898,000 after purchasing an additional 1,311,641 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in Sociedad Quimica y Minera de Chile in the 2nd quarter valued at approximately $36,635,000. Goldman Sachs Group Inc. increased its stake in Sociedad Quimica y Minera de Chile by 31.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,298,535 shares of the basic materials company’s stock valued at $42,877,000 after purchasing an additional 313,786 shares in the last quarter. American Century Companies Inc. purchased a new position in Sociedad Quimica y Minera de Chile in the 3rd quarter valued at approximately $13,601,000. Finally, Bank of New York Mellon Corp increased its stake in Sociedad Quimica y Minera de Chile by 75.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 561,964 shares of the basic materials company’s stock valued at $31,278,000 after purchasing an additional 241,114 shares in the last quarter. 11.93% of the stock is owned by hedge funds and other institutional investors.

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Sociedad Quimica y Minera de Chile Company Profile

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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