Erste Asset Management GmbH Takes Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Erste Asset Management GmbH bought a new stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the third quarter, Holdings Channel reports. The fund bought 20,000 shares of the basic materials company’s stock, valued at approximately $834,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SQM. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sociedad Química y Minera de Chile by 0.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,111 shares of the basic materials company’s stock worth $3,876,000 after purchasing an additional 275 shares during the period. MFA Wealth Advisors LLC increased its position in Sociedad Química y Minera de Chile by 4.7% during the 3rd quarter. MFA Wealth Advisors LLC now owns 7,006 shares of the basic materials company’s stock worth $292,000 after purchasing an additional 313 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Sociedad Química y Minera de Chile by 3.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 13,037 shares of the basic materials company’s stock valued at $531,000 after buying an additional 401 shares during the period. Saturna Capital Corp lifted its position in Sociedad Química y Minera de Chile by 0.8% during the third quarter. Saturna Capital Corp now owns 49,407 shares of the basic materials company’s stock valued at $2,059,000 after buying an additional 407 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Sociedad Química y Minera de Chile by 21.3% during the third quarter. Signaturefd LLC now owns 2,500 shares of the basic materials company’s stock worth $104,000 after buying an additional 439 shares during the period. Institutional investors and hedge funds own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group upgraded shares of Sociedad Química y Minera de Chile from a “neutral” rating to a “buy” rating in a report on Friday, August 9th. Scotiabank decreased their target price on Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating for the company in a research report on Monday, November 25th. JPMorgan Chase & Co. lowered Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $55.00 to $44.00 in a research note on Friday, October 11th. StockNews.com raised Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Finally, Jefferies Financial Group lowered their price objective on shares of Sociedad Química y Minera de Chile from $62.80 to $55.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.56.

Sociedad Química y Minera de Chile Stock Down 1.8 %

Shares of NYSE:SQM opened at $39.14 on Wednesday. Sociedad Química y Minera de Chile S.A. has a 12-month low of $32.24 and a 12-month high of $64.62. The company has a current ratio of 2.94, a quick ratio of 2.05 and a debt-to-equity ratio of 0.74. The firm has a market cap of $11.18 billion, a PE ratio of -35.26 and a beta of 1.03. The company has a fifty day simple moving average of $39.71 and a 200 day simple moving average of $40.19.

Sociedad Química y Minera de Chile Profile

Sociedad Química y Minera de Chile SA operates as a mining company worldwide. The company offers specialty plant nutrients, including sodium potassium nitrate, specialty blends, and other specialty fertilizers under Ultrasol, Qrop, Speedfol, Allganic, Ultrasoline, ProP, and Prohydric brands. It also provides iodine and its derivatives for use in medical, agricultural, industrial, and human and animal nutrition products comprising x-ray contrast media, biocides, antiseptics and disinfectants, pharmaceutical intermediates, polarizing films for LCD and LED screens, chemicals, organic compounds, and pigments, as well as added to edible salt to prevent iodine deficiency disorders.