Does a Santander Upgrade Make Shares of Sociedad Quimica y Minera S.A (NYSE:SQM) a ‘Buy’?

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Sociedad Quimica y Minera S.A (NYSE:SQM) Stock Upgrade

Trading for shares of Sociedad Quimica y Minera S.A (NYSE:SQM) should be followed closely this week, as Santander upgraded shares to a “Hold” from a “Underperform”. Additionally analysts have announced a new target price of $18.71 which is 21.10% higher.

From a total of 10 analysts covering Sociedad Quimica y Minera de Chile (NYSE:SQM) stock, 2 rate it a ”Buy”, 3 a “Sell”, and 5 a ”Hold”. This means that 20% of the ratings are positive. The highest target price is $28 while the lowest target price is $17. The mean of all analyst targets is $22.29 with a 32.54% above today’s ($15.52) stock price. Sociedad Quimica y Minera de Chile was the topic of 6 analyst reports since August 28, 2015 according to the firm StockzIntelligence Inc. Santander upgraded shares on December 8 to “Hold” rating. JP Morgan downgraded SQM stock in a recent report from September 30 to “Neutral” rating.

The stock decreased 2.02% or $0.32 during the last trading session, striking $15.52. Approximately 273,077 shares of stock traded hands. Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) has declined 28.15% since May 6, 2015 and is downtrending. It has underperformed by 27.35% the S&P500.

 Does a Santander Upgrade Make Shares of Sociedad Quimica y Minera S.A (NYSE:SQM) a ‘Buy’?

Sociedad Quimica y Minera de Chile S.A. is a producer of potassium nitrate and iodine chemicals. The company has a market cap of $5.62 billion. The Firm operates in six divisions: specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other services and products. It has 21.89 P/E ratio. It produces four types of specialty plant nutrients: potassium nitrate, sodium nitrate, sodium potassium nitrate and specialty blends.

According to Zacks Investment Research, “Sociedad Quimica Minera Chile SA produces fertilizer and iodine and manufactures industrial chemicals and iodine derivative products. The Company sells its products in over 60 countries throughout the world.” Get a free copy of the Zacks research report on Sociedad Quimica y Minera de Chile (ADR) (SQM).

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