Fmr LLC Increases Stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

FMR LLC increased its holdings in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) by 1,076.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,726 shares of the basic materials company's stock after buying an additional 17,134 shares during the period. FMR LLC's holdings in Sociedad Química y Minera de Chile were worth $781,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Sociedad Química y Minera de Chile by 41.6% in the second quarter. Van ECK Associates Corp now owns 899,646 shares of the basic materials company's stock worth $36,661,000 after buying an additional 264,324 shares in the last quarter. Marshall Wace LLP bought a new stake in Sociedad Química y Minera de Chile during the second quarter worth about $8,592,000. Prudential PLC boosted its holdings in shares of Sociedad Química y Minera de Chile by 18.9% in 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 in the last quarter. KBC Group NV increased its position in shares of 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 valued at $2,709,000 after purchasing an additional 58,546 shares during the last quarter. Finally, abrdn plc lifted its position in Sociedad Química y Minera de Chile by 2.7% in the 3rd quarter. abrdn plc now owns 1,204,942 shares of the basic materials company's stock worth $49,668,000 after buying an additional 31,955 shares during the last quarter. Institutional investors own 12.41% of the company's stock.

Sociedad Química y Minera de Chile Trading Down 1.6 %

Shares of NYSE SQM traded down $0.62 during trading hours on Wednesday, hitting $37.32. The company's stock had a trading volume of 1,481,659 shares, compared to its average volume of 1,175,464. The business has a 50-day simple moving average of $39.06 and a 200-day simple moving average of $39.45. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of -33.62 and a beta of 1.03. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94. Sociedad Química y Minera de Chile S.A. has a 12 month low of $32.24 and a 12 month high of $64.62.

Analysts Set New Price Targets

A number of brokerages have commented on SQM. JPMorgan Chase & Co. cut shares of 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 research report on Friday, October 11th. StockNews.com raised shares of Sociedad Química y Minera de Chile to a "sell" rating in a report on Thursday, November 21st. Jefferies Financial Group lowered their price target on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a "buy" rating for the company in a research note on Monday, August 26th. Scotiabank reduced their price objective on 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. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a "hold" rating for the company in a research note on Thursday, November 21st. Two equities research 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, the company presently has an average rating of "Hold" and an average price target of $45.56.

Sociedad Química y Minera de Chile 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.