Sociedad Quimica y Minera de Chile SA (NYSE:SQM) shares shot up 2.8% during mid-day trading on Tuesday . The stock traded as high as $26.68 and last traded at $26.28, with a volume of 611,680 shares traded. The stock had previously closed at $25.57.

Several brokerages recently issued reports on SQM. Zacks Investment Research upgraded Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, June 23rd. TheStreet upgraded Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. Bank of America Corp. restated a “hold” rating and set a $28.00 price objective on shares of Sociedad Quimica y Minera de Chile SA in a research report on Tuesday, July 5th. Citigroup Inc. downgraded Sociedad Quimica y Minera de Chile SA from a “neutral” rating to a “sell” rating in a research report on Wednesday, July 13th. Finally, Scotiabank upgraded Sociedad Quimica y Minera de Chile SA from a “sector perform” rating to an “outperform” rating in a research report on Monday, June 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Sociedad Quimica y Minera de Chile SA presently has a consensus rating of “Hold” and a consensus target price of $22.20.

The firm’s 50-day moving average is $25.02 and its 200 day moving average is $22.14. The firm has a market capitalization of $6.62 billion and a P/E ratio of 32.40.

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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