Morgan Stanley reissued their underweight rating on shares of Sociedad Quimica y Minera de Chile (NYSE:SQM) in a report published on Friday morning, The Fly reports. The firm currently has a $35.00 price objective on the basic materials company’s stock, down from their prior price objective of $44.00.

Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Sociedad Quimica y Minera de Chile from a hold rating to a buy rating and set a $48.00 price target for the company in a research report on Saturday, January 19th. TheStreet lowered Sociedad Quimica y Minera de Chile from a b- rating to a c rating in a research report on Tuesday, March 19th. Santander cut Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Wednesday, April 3rd. Deutsche Bank cut Sociedad Quimica y Minera de Chile from a buy rating to a hold rating in a report on Monday, February 25th. Finally, Bank of America cut Sociedad Quimica y Minera de Chile from a buy rating to a neutral rating in a report on Thursday, March 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Sociedad Quimica y Minera de Chile currently has a consensus rating of Hold and an average price target of $45.43.

SQM stock opened at $37.27 on Friday. The company has a quick ratio of 2.67, a current ratio of 4.32 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $9.98 billion, a PE ratio of 22.32, a P/E/G ratio of 1.54 and a beta of 1.08. Sociedad Quimica y Minera de Chile has a 1 year low of $36.57 and a 1 year high of $58.69.

Sociedad Quimica y Minera de Chile (NYSE:SQM) last posted its quarterly earnings results on Thursday, February 28th. The basic materials company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.03). The company had revenue of $565.20 million during the quarter, compared to analysts’ expectations of $560.66 million. Sociedad Quimica y Minera de Chile had a net margin of 19.41% and a return on equity of 20.29%. Equities research analysts predict that Sociedad Quimica y Minera de Chile will post 1.62 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQM. SG Americas Securities LLC lifted its holdings in Sociedad Quimica y Minera de Chile by 44.8% in the third quarter. SG Americas Securities LLC now owns 13,414 shares of the basic materials company’s stock valued at $613,000 after acquiring an additional 4,153 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Sociedad Quimica y Minera de Chile by 198.1% during the third quarter. Alliancebernstein L.P. now owns 59,008 shares of the basic materials company’s stock worth $2,698,000 after purchasing an additional 39,216 shares in the last quarter. FMR LLC lifted its stake in Sociedad Quimica y Minera de Chile by 156.1% during the third quarter. FMR LLC now owns 1,027,900 shares of the basic materials company’s stock worth $46,995,000 after purchasing an additional 626,500 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sociedad Quimica y Minera de Chile by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 590,708 shares of the basic materials company’s stock worth $27,015,000 after purchasing an additional 1,961 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Sociedad Quimica y Minera de Chile during the third quarter worth $162,000. Hedge funds and other institutional investors own 11.09% of the company’s stock.

About Sociedad Quimica y Minera de Chile

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

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