Sociedad Quimica y Minera S.A. (NYSE:SQM) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $43.62 and last traded at $43.62, with a volume of 506,859 shares. The stock had previously closed at $42.91.

A number of research analysts have recently weighed in on SQM shares. BidaskClub downgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Vetr upgraded shares of Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating and set a $38.88 price target on the stock in a report on Wednesday, May 3rd. BMO Capital Markets restated a “hold” rating and set a $30.00 price target on shares of Sociedad Quimica y Minera in a report on Thursday, May 18th. Zacks Investment Research upgraded shares of Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, June 21st. Finally, Deutsche Bank AG raised their price target on shares of Sociedad Quimica y Minera from $36.00 to $38.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Sociedad Quimica y Minera has a consensus rating of “Buy” and a consensus target price of $36.98.

The firm’s 50-day moving average price is $39.11 and its 200-day moving average price is $35.51. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of 35.60 and a beta of 1.06.

Several hedge funds have recently made changes to their positions in the company. Comerica Bank raised its stake in shares of Sociedad Quimica y Minera by 1.3% in the first quarter. Comerica Bank now owns 6,900 shares of the basic materials company’s stock worth $242,000 after buying an additional 88 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Sociedad Quimica y Minera by 3.4% in the first quarter. Capstone Asset Management Co. now owns 15,003 shares of the basic materials company’s stock worth $516,000 after buying an additional 490 shares in the last quarter. Financial Architects Inc raised its stake in shares of Sociedad Quimica y Minera by 18,723.8% in the first quarter. Financial Architects Inc now owns 3,953 shares of the basic materials company’s stock worth $136,000 after buying an additional 3,932 shares in the last quarter. 1st Global Advisors Inc. acquired a new stake in shares of Sociedad Quimica y Minera during the first quarter worth approximately $883,000. Finally, Profund Advisors LLC raised its stake in shares of Sociedad Quimica y Minera by 102.6% in the first quarter. Profund Advisors LLC now owns 14,319 shares of the basic materials company’s stock worth $492,000 after buying an additional 7,252 shares in the last quarter. 16.74% of the stock is currently owned by institutional investors and hedge funds.

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About Sociedad Quimica y Minera

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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