Sociedad Quimica y Minera S.A. (NYSE:SQM) was upgraded by Santander from an “underperform” rating to a “hold” rating in a research report issued on Wednesday.

Several other brokerages have also weighed in on SQM. Bank of America Corporation raised Sociedad Quimica y Minera from a “neutral” rating to a “buy” rating in a research report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $45.00 target price (up from $35.00) on shares of Sociedad Quimica y Minera in a research report on Tuesday, August 29th. Zacks Investment Research raised Sociedad Quimica y Minera from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, August 23rd. BidaskClub raised Sociedad Quimica y Minera from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG increased their price objective on Sociedad Quimica y Minera from $36.00 to $38.00 and gave the company a “hold” rating in a report on Monday, May 22nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $41.18.

Sociedad Quimica y Minera (SQM) traded up 3.43% during mid-day trading on Wednesday, reaching $53.99. The company had a trading volume of 766,853 shares. Sociedad Quimica y Minera has a 12 month low of $24.75 and a 12 month high of $54.44. The firm has a market capitalization of $14.38 billion, a P/E ratio of 41.66 and a beta of 1.03. The stock’s 50-day moving average is $43.91 and its 200 day moving average is $37.09.

Sociedad Quimica y Minera (NYSE:SQM) last posted its quarterly earnings results on Wednesday, August 23rd. The basic materials company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.01). The business had revenue of $505.70 million for the quarter, compared to analyst estimates of $500.49 million. Sociedad Quimica y Minera had a net margin of 16.28% and a return on equity of 14.81%. On average, analysts predict that Sociedad Quimica y Minera will post $1.58 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in SQM. William Blair Investment Management LLC bought a new stake in Sociedad Quimica y Minera during the 2nd quarter valued at approximately $66,475,000. Artisan Partners Limited Partnership bought a new stake in shares of Sociedad Quimica y Minera in the 2nd quarter worth approximately $36,635,000. Goldman Sachs Group Inc. lifted its position in shares of Sociedad Quimica y Minera by 155.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 984,749 shares of the basic materials company’s stock worth $33,846,000 after acquiring an additional 599,929 shares during the period. Boston Common Asset Management LLC bought a new stake in shares of Sociedad Quimica y Minera in the 1st quarter worth approximately $16,336,000. Finally, Marshall Wace North America L.P. lifted its position in shares of Sociedad Quimica y Minera by 229.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 363,859 shares of the basic materials company’s stock worth $12,007,000 after acquiring an additional 253,403 shares during the period. Hedge funds and other institutional investors own 13.65% of the company’s stock.

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.

Analyst Recommendations for Sociedad Quimica y Minera (NYSE:SQM)

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