Sociedad Química y Minera de Chile (NYSE:SQM) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.80 and traded as high as $39.96. Sociedad Química y Minera de Chile shares last traded at $39.31, with a volume of 736,002 shares trading hands.

Wall Street Analysts Forecast Growth

SQM has been the topic of several research reports. StockNews.com raised Sociedad Química y Minera de Chile to a "sell" rating in a research note on Thursday, November 21st. Scotiabank cut 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 report on Monday, November 25th. 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 report on Wednesday, August 21st. 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 research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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 report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Trading Down 3.9 %

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's 50-day simple moving average is $39.45 and its 200-day simple moving average is $39.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. grew its position in Sociedad Química y Minera de Chile by 396.2% during the second quarter. Blue Trust Inc. now owns 913 shares of the basic materials company's stock worth $37,000 after buying an additional 729 shares during the period. Signaturefd LLC grew its holdings in shares of Sociedad Química y Minera de Chile by 204.9% in the 2nd quarter. Signaturefd LLC now owns 2,061 shares of the basic materials company's stock worth $84,000 after acquiring an additional 1,385 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in Sociedad Química y Minera de Chile by 47.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,133 shares of the basic materials company's stock valued at $87,000 after purchasing an additional 683 shares in the last quarter. MML Investors Services LLC acquired a new position in Sociedad Química y Minera de Chile during the third quarter worth $202,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Sociedad Química y Minera de Chile by 216.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,968 shares of the basic materials company's stock worth $207,000 after purchasing an additional 3,398 shares in the last quarter. 12.41% of the stock is currently owned by institutional investors and hedge funds.

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.