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

Van ECK Associates Corp lifted its position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM) by 28.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 804,913 shares of the basic materials company’s stock after purchasing an additional 177,898 shares during the quarter. Van ECK Associates Corp owned 0.28% of Sociedad Química y Minera de Chile worth $29,267,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in shares of Sociedad Química y Minera de Chile in the 4th quarter valued at about $120,395,000. Concentric Capital Strategies LP bought a new stake in shares of Sociedad Química y Minera de Chile in the 3rd quarter valued at about $4,213,000. KBC Group NV lifted its stake in shares of Sociedad Química y Minera de Chile by 908.3% in 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 stake in shares of Sociedad Química y Minera de Chile by 2.7% in the 3rd quarter. abrdn plc now owns 1,204,942 shares of the basic materials company’s stock valued at $49,668,000 after acquiring an additional 31,955 shares during the last quarter. Finally, Mirabella Financial Services LLP bought a new stake in shares of Sociedad Química y Minera de Chile in the 3rd quarter valued at about $1,116,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SQM has been the subject of a number of recent research reports. StockNews.com raised Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Scotiabank lowered their price target 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. Finally, Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.56.

Sociedad Química y Minera de Chile Stock Down 3.8 %

Shares of NYSE:SQM opened at $38.64 on Friday. Sociedad Química y Minera de Chile S.A. has a 52-week low of $32.24 and a 52-week high of $51.90. The firm has a market capitalization of $11.04 billion, a P/E ratio of -34.81, a P/E/G ratio of 5.18 and a beta of 1.04. The stock has a 50 day moving average price of $38.60 and a 200-day moving average price of $38.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.05 and a current ratio of 2.94.

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.