Sociedad Quimica y Minera de Chile SA (NYSE:SQM) shares dropped 3.1% during mid-day trading on Wednesday . The stock traded as low as $24.90 and last traded at $25.39, with a volume of 798,657 shares. The stock had previously closed at $26.20.

SQM has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of 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 report on Thursday, June 23rd. Bank of America Corp. reiterated a “hold” rating and set a $28.00 price target on shares of Sociedad Quimica y Minera de Chile SA in a report on Tuesday, July 5th. Scotiabank upgraded shares of Sociedad Quimica y Minera de Chile SA from a “sector perform” rating to an “outperform” rating in a report on Monday, June 6th. Finally, Citigroup Inc. downgraded shares of Sociedad Quimica y Minera de Chile SA from a “neutral” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.89.

The firm’s 50 day moving average price is $24.03 and its 200-day moving average price is $19.97. The company has a market capitalization of $6.70 billion and a price-to-earnings ratio of 32.35.

A hedge fund recently raised its stake in Sociedad Quimica y Minera de Chile SA stock. Dimensional Fund Advisors LP boosted its stake in shares of Sociedad Quimica y Minera de Chile SA (NYSE:SQM) by 14.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 615,037 shares of the company’s stock after buying an additional 77,817 shares during the period. Dimensional Fund Advisors LP owned 0.23% of Sociedad Quimica y Minera de Chile SA worth $11,696,000 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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