BofA Merrill Gives Sociedad Quimica y Minera (NYSE:SQM) a Higher Rating. Raises its Neutral Rating

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Sociedad Quimica y Minera (NYSE:SQM) Stock Upgrade

BofA Merrill boosted shares of Sociedad Quimica y Minera (NYSE:SQM) from a Neutral rating to a solid Buy in a recent report distributed to Clients on today.

From a total of 10 analysts covering Sociedad Quimica y Minera de Chile (NYSE:SQM) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN 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 $21.82 with a 20.22% above today’s ($17.11) 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.

Approximately 843,937 shares of stock traded hands or 80.88% up from the average. Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) has declined 26.11% since May 15, 2015 and is downtrending. It has underperformed by 22.30% the S&P500.

Sociedad Quimica y Minera de Chile S.A. is a producer of potassium nitrate and iodine chemicals. The company has a market cap of $5.51 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 24.13 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.”

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