Sociedad Química y Minera de Chile (NYSE:SQM) Stock Price Down 5.5% – What’s Next?

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) shares were down 5.5% on Wednesday . The company traded as low as $38.01 and last traded at $37.81. Approximately 785,092 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 1,014,380 shares. The stock had previously closed at $40.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, November 21st. StockNews.com raised shares of Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $44.00 in a research note on Friday, October 11th. Finally, Scotiabank reduced their price objective on shares of Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Trading Down 5.7 %

The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94. The company has a market cap of $10.78 billion, a price-to-earnings ratio of -33.99, a price-to-earnings-growth ratio of 5.34 and a beta of 1.04. The company’s 50 day moving average price is $38.62 and its 200 day moving average price is $38.51.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds have recently modified their holdings of SQM. Manning & Napier Advisors LLC acquired a new stake in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at $120,395,000. Van ECK Associates Corp grew its stake in Sociedad Química y Minera de Chile by 28.4% during the fourth quarter. Van ECK Associates Corp now owns 804,913 shares of the basic materials company’s stock worth $29,267,000 after buying an additional 177,898 shares during the last quarter. Peregrine Investment Management Inc. acquired a new stake in shares of Sociedad Química y Minera de Chile during the fourth quarter worth approximately $5,505,000. Concentric Capital Strategies LP bought a new position in shares of Sociedad Química y Minera de Chile in the third quarter valued at approximately $4,213,000. Finally, North of South Capital LLP boosted its holdings in shares of Sociedad Química y Minera de Chile by 19.1% in the 4th quarter. North of South Capital LLP now owns 597,057 shares of the basic materials company’s stock worth $21,709,000 after acquiring an additional 95,564 shares in the last quarter. Institutional investors own 12.41% of the company’s stock.

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.