Sociedad Química y Minera de Chile (NYSE:SQM) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $38.69 and traded as high as $39.05. Sociedad Química y Minera de Chile shares last traded at $38.91, with a volume of 543,857 shares traded.

Analysts Set New Price Targets

Several brokerages recently issued reports on SQM. Scotiabank reduced their price objective on Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating for the company in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft cut their price target on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, November 21st. StockNews.com upgraded shares of Sociedad Química y Minera de Chile to a “sell” rating in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. downgraded shares of Sociedad Química y Minera de Chile from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $55.00 to $44.00 in a report on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sociedad Química y Minera de Chile currently has an average rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Price Performance

The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of -36.34 and a beta of 1.03. 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 company’s 50 day simple moving average is $38.18 and its 200-day simple moving average is $38.69.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SQM. Marshall Wace LLP purchased a new stake in shares of Sociedad Química y Minera de Chile in the second quarter valued at $8,592,000. Concentric Capital Strategies LP purchased a new stake in Sociedad Química y Minera de Chile in the 3rd quarter valued at about $4,213,000. KBC Group NV increased its stake in shares of Sociedad Química y Minera de Chile by 908.3% during the 3rd quarter. KBC Group NV now owns 64,992 shares of the basic materials company’s stock valued at $2,709,000 after acquiring an additional 58,546 shares during the last quarter. abrdn plc lifted its holdings in shares of Sociedad Química y Minera de Chile by 2.7% during the 3rd quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock worth $49,668,000 after acquiring an additional 31,955 shares during the period. Finally, Mirabella Financial Services LLP purchased a new position in shares of Sociedad Química y Minera de Chile during the 3rd quarter worth about $1,116,000. 12.41% of the stock is currently owned by institutional investors and hedge funds.

Sociedad Química y Minera de Chile Company 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.