Erste Asset Management GmbH Makes New $834,000 Investment in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Erste Asset Management GmbH bought a new position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,000 shares of the basic materials company's stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SQM. Van ECK Associates Corp raised its stake in Sociedad Química y Minera de Chile by 41.6% in the 2nd quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company's stock worth $36,661,000 after acquiring an additional 264,324 shares during the last quarter. Marshall Wace LLP purchased a new position in Sociedad Química y Minera de Chile in the 2nd quarter worth $8,592,000. Prudential PLC grew its position in Sociedad Química y Minera de Chile by 18.9% during the 2nd quarter. Prudential PLC now owns 612,538 shares of the basic materials company's stock worth $24,961,000 after purchasing an additional 97,479 shares during the period. Unison Advisors LLC acquired a new stake in Sociedad Química y Minera de Chile during the 2nd quarter worth about $2,547,000. Finally, KBC Group NV grew its position in Sociedad Química y Minera de Chile by 908.3% during the 3rd quarter. KBC Group NV now owns 64,992 shares of the basic materials company's stock worth $2,709,000 after purchasing an additional 58,546 shares during the period. Hedge funds and other institutional investors own 12.41% of the company's stock.

Sociedad Química y Minera de Chile Price Performance

SQM stock traded down $1.53 during trading on Wednesday, hitting $37.62. The stock had a trading volume of 1,547,767 shares, compared to its average volume of 1,175,578. 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 S.A. has a twelve month low of $32.24 and a twelve month high of $64.62. The stock has a market capitalization of $10.75 billion, a P/E ratio of -34.28 and a beta of 1.03. The company's 50-day moving average price is $39.71 and its two-hundred day moving average price is $40.13.

Analyst Ratings Changes

SQM has been the topic of several analyst reports. StockNews.com raised Sociedad Química y Minera de Chile to a "sell" rating in a research report on Thursday, November 21st. Bank of America cut their price target on Sociedad Química y Minera de Chile from $47.00 to $38.00 and set an "underperform" rating on the stock in a research report on Wednesday, August 21st. Jefferies Financial Group cut their price target on Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a "buy" rating on the stock in a research report on Monday, August 26th. JPMorgan Chase & Co. downgraded Sociedad Química y Minera de Chile from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $55.00 to $44.00 in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Sociedad Química y Minera de Chile currently has an average rating of "Hold" and an average target price of $45.56.

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.