Sociedad Quimica y Minera S.A. (NYSE:SQM) was downgraded by research analysts at HSBC Holdings plc from a “buy” rating to a “reduce” rating in a research report issued on Wednesday.

A number of other equities analysts have also weighed in on the stock. BMO Capital Markets reiterated a “market perform” rating and set a $50.00 target price (up previously from $45.00) on shares of Sociedad Quimica y Minera in a research report on Friday, October 6th. Santander upgraded shares of Sociedad Quimica y Minera from an “underperform” rating to a “hold” rating in a research report on Wednesday, September 13th. Bank of America Corporation upgraded shares of Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 13th. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, August 23rd. Finally, BidaskClub upgraded shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $42.18.

Shares of Sociedad Quimica y Minera (NYSE:SQM) opened at 58.84 on Wednesday. Sociedad Quimica y Minera has a 52 week low of $26.28 and a 52 week high of $63.80. The firm has a market cap of $15.49 billion, a PE ratio of 45.40 and a beta of 1.07. The firm has a 50-day moving average of $53.08 and a 200 day moving average of $40.72.

Sociedad Quimica y Minera (NYSE:SQM) last issued its earnings results on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.01). The business had revenue of $505.70 million for the quarter, compared to the consensus estimate of $500.49 million. Sociedad Quimica y Minera had a return on equity of 14.90% and a net margin of 16.28%. Equities research analysts predict that Sociedad Quimica y Minera will post $1.60 EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in SQM. Invictus RG raised its stake 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 in the last quarter. Pacad Investment Ltd. purchased a new stake in Sociedad Quimica y Minera in the second quarter valued at approximately $116,000. Nomura Asset Management Co. Ltd. raised its stake 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Sociedad Quimica y Minera by 2,557.6% in the first quarter. Tower Research Capital LLC TRC now owns 4,385 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 4,220 shares in the last quarter. Finally, Acrospire Investment Management LLC raised its stake in Sociedad Quimica y Minera by 307.5% in the second quarter. Acrospire Investment Management LLC now owns 5,298 shares of the basic materials company’s stock valued at $175,000 after purchasing an additional 3,998 shares in the last quarter. 13.68% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Sociedad Quimica y Minera (NYSE:SQM)

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