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 target price decreased by Scotiabank from $60.00 to $50.00 in a research note published on Monday morning,Benzinga reports. Scotiabank currently has 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, FY2024 earnings at ($1.37) EPS and FY2025 earnings at $3.92 EPS.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group cut their target price on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating on the stock in a report on Monday, August 26th. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft dropped their target price 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 report on Thursday, November 21st. JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $44.00 in a report on Friday, October 11th. Finally, Berenberg Bank initiated coverage on Sociedad Química y Minera de Chile in a report on Wednesday, July 31st. They issued a “hold” rating and a $35.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sociedad Química y Minera de Chile currently has a consensus rating of “Hold” and an average price target of $45.56.

Sociedad Química y Minera de Chile Trading Up 1.4 %

Shares of SQM stock opened at $38.56 on Monday. The business has a 50-day moving average of $39.64 and a 200 day moving average of $40.45. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. Sociedad Química y Minera de Chile has a 1-year low of $32.24 and a 1-year high of $64.62. The stock has a market capitalization of $11.01 billion, a PE ratio of -34.77 and a beta of 1.03.

Institutional Trading of Sociedad Química y Minera de Chile

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sociedad Química y Minera de Chile by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after acquiring an additional 275 shares in the last quarter. MFA Wealth Advisors LLC raised its holdings in Sociedad Química y Minera de Chile by 4.7% in the third quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 313 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sociedad Química y Minera de Chile by 3.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after buying an additional 401 shares during the period. Saturna Capital Corp boosted its holdings in shares of Sociedad Química y Minera de Chile by 0.8% during the 3rd quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock valued at $2,059,000 after buying an additional 407 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Sociedad Química y Minera de Chile by 21.3% in the 3rd quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after buying an additional 439 shares during the period. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

About Sociedad Química y Minera de Chile

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.