Sociedad Química y Minera de Chile (NYSE:SQM) Trading Down 5.5% - Here's What Happened

Sociedad Química y Minera de Chile S.A. (NYSE:SQM - Get Free Report) 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 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

Several brokerages have recently weighed in on SQM. Deutsche Bank Aktiengesellschaft decreased their price target 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. StockNews.com raised Sociedad Química y Minera de Chile to a "sell" rating in a research note on Thursday, November 21st. 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 for the company in a research report on Monday, November 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $45.56.

Sociedad Química y Minera de Chile Stock Up 0.9 %

The stock's 50-day simple moving average is $38.60 and its 200-day simple moving average is $38.50. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $11.05 billion, a P/E ratio of -34.85, a P/E/G ratio of 5.18 and a beta of 1.04.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Investment Management LLC purchased a new position in Sociedad Química y Minera de Chile in the fourth quarter valued at about $39,000. Jones Financial Companies Lllp grew its holdings in Sociedad Química y Minera de Chile by 803.4% during the 4th quarter. Jones Financial Companies Lllp now owns 1,075 shares of the basic materials company's stock valued at $39,000 after buying an additional 956 shares in the last quarter. R Squared Ltd bought a new position in shares of Sociedad Química y Minera de Chile in the fourth quarter valued at approximately $58,000. Avior Wealth Management LLC lifted its stake in Sociedad Química y Minera de Chile by 104.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company's stock worth $77,000 after purchasing an additional 1,085 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sociedad Química y Minera de Chile by 47.1% during 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. Hedge funds and other 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.