Sociedad Quimica y Minera de Chile SA (NYSE:SQM) dropped 1.6% on Wednesday . The stock traded as low as $25.17 and last traded at $25.24, with a volume of 655,667 shares traded. The stock had previously closed at $25.66.

SQM has been the topic of several analyst reports. Scotiabank raised Sociedad Quimica y Minera de Chile SA from a “sector perform” rating to an “outperform” rating in a research report on Monday, June 6th. Bank of America Corp. reaffirmed a “hold” rating and issued a $28.00 target price on shares of Sociedad Quimica y Minera de Chile SA in a research report on Tuesday. Finally, Zacks Investment Research raised Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, June 23rd. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Sociedad Quimica y Minera de Chile SA has a consensus rating of “Hold” and a consensus price target of $21.89.

The firm’s 50-day moving average is $23.46 and its 200 day moving average is $19.69. The stock has a market capitalization of $6.64 billion and a price-to-earnings ratio of 32.07.

An institutional investor recently bought a new position in Sociedad Quimica y Minera de Chile SA stock. Oxford Asset Management acquired a new stake in Sociedad Quimica y Minera de Chile SA (NYSE:SQM) during the fourth quarter, Holdings Channel reports. The firm acquired 174,708 shares of the company’s stock, valued at approximately $3,353,000. Oxford Asset Management owned about 0.07% of Sociedad Quimica y Minera de Chile SA at the end of the most recent quarter.

Sociedad Quimica y Minera de Chile SA (SQM) is a producer of potassium nitrate and iodine chemicals. The Company operates in six segments: specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other products and services. It produces four types of specialty plant nutrients: potassium nitrate, sodium nitrate, sodium potassium nitrate and specialty blends.

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