Shares of Sociedad Quimica y Minera de Chile SA (NYSE:SQM) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $27.68 and last traded at $27.60, with a volume of 635,720 shares changing hands. The stock had previously closed at $26.43.

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 target for the company in a report on Thursday, June 23rd. TheStreet upgraded Sociedad Quimica y Minera de Chile SA from a “hold” rating to a “buy” rating in a report on Thursday, August 25th. Bank of America Corp. reiterated a “hold” rating and issued a $28.00 price target on shares of Sociedad Quimica y Minera de Chile SA in a 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 note 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 note on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.20.

The company has a market cap of $7.20 billion and a price-to-earnings ratio of 35.25. The company has a 50-day moving average of $25.07 and a 200 day moving average of $22.21.

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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