C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases New Position in Sociedad Química y Minera de Chile S.A. (NYSE:SQM)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Sociedad Química y Minera de Chile S.A. (NYSE:SQM) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 34,109 shares of the basic materials company’s stock, valued at approximately $1,240,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new position in shares of Sociedad Química y Minera de Chile during the 4th quarter worth about $58,000. Avior Wealth Management LLC lifted its stake in Sociedad Química y Minera de Chile by 104.0% in the fourth quarter. Avior Wealth Management LLC now owns 2,128 shares of the basic materials company’s stock worth $77,000 after purchasing an additional 1,085 shares during the last quarter. Signaturefd LLC boosted its position in shares of 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 valued at $104,000 after buying an additional 439 shares during the period. Blue Trust Inc. raised its holdings in shares of Sociedad Química y Minera de Chile by 216.6% in the third quarter. Blue Trust Inc. now owns 2,891 shares of the basic materials company’s stock worth $118,000 after buying an additional 1,978 shares during the period. Finally, MML Investors Services LLC purchased a new stake in shares of Sociedad Química y Minera de Chile in the third quarter worth approximately $202,000. 12.41% of the stock is currently owned by hedge funds and other institutional investors.

Sociedad Química y Minera de Chile Trading Up 7.2 %

Shares of NYSE:SQM opened at $40.18 on Friday. 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 has a market capitalization of $11.48 billion, a PE ratio of -36.20, a P/E/G ratio of 5.18 and a beta of 1.04. Sociedad Química y Minera de Chile S.A. has a 12-month low of $32.24 and a 12-month high of $51.90. The business’s fifty day simple moving average is $38.58 and its 200-day simple moving average is $38.51.

Analysts Set New Price Targets

A number of analysts have weighed in on SQM shares. StockNews.com upgraded Sociedad Química y Minera de Chile to a “sell” rating in a research note on Thursday, November 21st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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. Finally, Scotiabank lowered their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Sociedad Química y Minera de Chile presently has a consensus rating of “Hold” and an average 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.