Van ECK Associates Corp Boosts Stock Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

Van ECK Associates Corp increased its stake in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 28.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 804,913 shares of the basic materials company’s stock after buying an additional 177,898 shares during the period. Van ECK Associates Corp’s holdings in Sociedad Química y Minera de Chile were worth $29,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SQM. R Squared Ltd purchased a new stake in shares of Sociedad Química y Minera de Chile in the 4th quarter worth approximately $58,000. Avior Wealth Management LLC grew its stake in shares of Sociedad Química y Minera de Chile by 104.0% in the 4th quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company’s stock worth $77,000 after buying an additional 1,085 shares during the last quarter. Signaturefd LLC grew its stake in shares of Sociedad Química y Minera de Chile by 21.3% in the 3rd 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 last quarter. Blue Trust Inc. boosted its stake in Sociedad Química y Minera de Chile by 216.6% during the 3rd quarter. Blue Trust Inc. now owns 2,891 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,978 shares during the last quarter. Finally, MML Investors Services LLC purchased a new stake in Sociedad Química y Minera de Chile during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 12.41% of the company’s stock.

Sociedad Química y Minera de Chile Stock Performance

Shares of SQM opened at $38.64 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.94 and a quick ratio of 2.05. Sociedad Química y Minera de Chile S.A. has a one year low of $32.24 and a one year high of $51.90. The firm has a market capitalization of $11.04 billion, a P/E ratio of -34.81, a PEG ratio of 5.18 and a beta of 1.04. The business has a fifty day moving average of $38.60 and a 200 day moving average of $38.51.

Wall Street Analysts Forecast Growth

Several analysts have commented on SQM shares. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Scotiabank cut their target price on Sociedad Química y Minera de Chile from $60.00 to $50.00 and set a “sector outperform” rating on the stock in a research note on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Sociedad Química y Minera de Chile from $35.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, November 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and a consensus target price of $45.56.

About Sociedad Química y Minera de Chile

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.