Sociedad Química y Minera de Chile (NYSE:SQM) Stock Passes Above 200-Day Moving Average – Here’s Why

Sociedad Química y Minera de Chile S.A. (NYSE:SQM) crossed 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 trading hands.

Analyst Ratings Changes

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

Sociedad Química y Minera de Chile Trading Up 0.7 %

The business has a 50 day moving average price of $38.18 and a 200-day moving average price of $38.69. The firm has a market cap of $11.52 billion, a price-to-earnings ratio of -36.34 and a beta of 1.03. The company has a quick ratio of 2.05, a current ratio of 2.94 and a debt-to-equity ratio of 0.74.

Institutional Trading of Sociedad Química y Minera de Chile

A number of hedge funds have recently made changes to their positions in the company. abrdn plc boosted its stake in shares of Sociedad Química y Minera de Chile by 2.7% in the third quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after purchasing an additional 31,955 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Sociedad Química y Minera de Chile by 2.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 887,342 shares of the basic materials company’s stock worth $36,984,000 after buying an additional 24,999 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Sociedad Química y Minera de Chile by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 488,456 shares of the basic materials company’s stock valued at $19,921,000 after buying an additional 13,756 shares during the last quarter. Sei Investments Co. grew its stake in shares of Sociedad Química y Minera de Chile by 4.9% during the second quarter. Sei Investments Co. now owns 418,395 shares of the basic materials company’s stock valued at $17,050,000 after acquiring an additional 19,649 shares in the last quarter. Finally, State Street Corp increased its position in shares of Sociedad Química y Minera de Chile by 8.9% during the third quarter. State Street Corp now owns 265,545 shares of the basic materials company’s stock worth $11,068,000 after acquiring an additional 21,778 shares during the last quarter. Hedge funds and other institutional investors own 12.41% of the company’s stock.

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.