Peregrine Investment Management Inc. Purchases New Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Peregrine Investment Management Inc. purchased a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 151,390 shares of the basic materials company's stock, valued at approximately $5,505,000. Sociedad Química y Minera de Chile comprises approximately 3.2% of Peregrine Investment Management Inc.'s portfolio, making the stock its 17th biggest holding. Peregrine Investment Management Inc. owned approximately 0.05% of Sociedad Química y Minera de Chile at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $120,395,000. Van ECK Associates Corp lifted its stake in shares of Sociedad Química y Minera de Chile by 28.4% during the 4th 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. Concentric Capital Strategies LP acquired a new stake in shares of Sociedad Química y Minera de Chile during the 3rd quarter worth about $4,213,000. KBC Group NV lifted its stake 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 worth $2,709,000 after buying an additional 58,546 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $1,240,000. Institutional investors and hedge funds own 12.41% of the company's stock.

Sociedad Química y Minera de Chile Price Performance

SQM stock traded up $0.17 during mid-day trading on Wednesday, hitting $38.87. The stock had a trading volume of 660,245 shares, compared to its average volume of 1,010,800. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. Sociedad Química y Minera de Chile S.A. has a 52 week low of $32.24 and a 52 week high of $51.90. The firm has a market capitalization of $11.10 billion, a P/E ratio of -35.02, a P/E/G ratio of 4.85 and a beta of 1.04. The firm has a fifty day simple moving average of $38.53 and a 200 day simple moving average of $38.56.

Analysts Set New Price Targets

SQM has been the subject of a number of research reports. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a "sell" rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of 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. Finally, Scotiabank lowered their price target 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 report on Monday, November 25th. Two 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. Based on data from MarketBeat, the stock 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.