Scotiabank Cuts Sociedad Química y Minera de Chile (NYSE:SQM) Price Target to $50.00

Sociedad Química y Minera de Chile (NYSE:SQM) had its price target reduced by Scotiabank from $60.00 to $50.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector outperform rating on the basic materials company’s stock. Scotiabank also issued estimates for Sociedad Química y Minera de Chile’s Q4 2024 earnings at $0.46 EPS.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $55.00 to $44.00 in a research report on Friday, October 11th. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, November 21st. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a report on Thursday, November 21st. Finally, Berenberg Bank assumed coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They set a “hold” rating and a $35.00 target price for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Stock Up 1.5 %

Shares of NYSE SQM opened at $38.59 on Monday. The company has a market capitalization of $11.02 billion, a P/E ratio of -34.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. The company has a 50 day simple moving average of $39.62 and a 200-day simple moving average of $40.46. Sociedad Química y Minera de Chile has a 1 year low of $32.24 and a 1 year high of $64.62.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQM. SG Americas Securities LLC lifted its position in shares of Sociedad Química y Minera de Chile by 242.5% during the 2nd quarter. SG Americas Securities LLC now owns 37,977 shares of the basic materials company’s stock worth $1,548,000 after purchasing an additional 26,889 shares during the last quarter. Unison Advisors LLC acquired a new position in shares of Sociedad Química y Minera de Chile during the 2nd quarter worth about $2,547,000. Sei Investments Co. boosted its position in shares of Sociedad Química y Minera de Chile by 4.9% during the 2nd quarter. Sei Investments Co. now owns 418,395 shares of the basic materials company’s stock worth $17,050,000 after acquiring an additional 19,649 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Sociedad Química y Minera de Chile by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock valued at $19,921,000 after acquiring an additional 13,756 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the 2nd quarter worth about $989,000. Institutional investors and hedge funds own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Company Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.