Sociedad Quimica y Minera de Chile (SQM) Shares Gap Up to $52.67

Sociedad Quimica y Minera de Chile (NYSE:SQM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $45.76, but opened at $52.67. Sociedad Quimica y Minera de Chile shares last traded at $56.85, with a volume of 3315200 shares traded.

Several research analysts have recently commented on SQM shares. BMO Capital Markets boosted their target price on Sociedad Quimica y Minera de Chile to $60.00 and gave the stock an “average” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Zacks Investment Research raised Sociedad Quimica y Minera de Chile from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Saturday, November 18th. Bank of America raised Sociedad Quimica y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Wednesday, September 13th. Scotiabank set a $50.00 target price on Sociedad Quimica y Minera de Chile and gave the stock a “hold” rating in a report on Tuesday. Finally, ValuEngine downgraded Sociedad Quimica y Minera de Chile from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.18.

The company has a market cap of $15,378.60, a price-to-earnings ratio of 38.69, a P/E/G ratio of 1.08 and a beta of 1.01. The company has a quick ratio of 2.31, a current ratio of 3.79 and a debt-to-equity ratio of 0.45.

Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Sociedad Quimica y Minera de Chile by 17.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 73,610 shares of the basic materials company’s stock valued at $2,530,000 after purchasing an additional 10,680 shares during the period. Sei Investments Co. raised its stake in Sociedad Quimica y Minera de Chile by 185.9% during the second quarter. Sei Investments Co. now owns 74,012 shares of the basic materials company’s stock worth $2,444,000 after buying an additional 48,124 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Sociedad Quimica y Minera de Chile by 384.2% during the second quarter. Canada Pension Plan Investment Board now owns 56,551 shares of the basic materials company’s stock worth $1,867,000 after buying an additional 44,871 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Sociedad Quimica y Minera de Chile during the second quarter worth $997,000. Finally, Advisors Asset Management Inc. raised its stake in Sociedad Quimica y Minera de Chile by 81.8% during the second quarter. Advisors Asset Management Inc. now owns 28,595 shares of the basic materials company’s stock worth $944,000 after buying an additional 12,866 shares during the last quarter. Hedge funds and other institutional investors own 11.93% of the company’s stock.

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About Sociedad Quimica y Minera de Chile

Sociedad Quimica y Minera de Chile SA (SQM), is a producer of potassium nitrate and iodine. The Company produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals. Its segments include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services.

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