The stock of Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) hit a new 52-week high and has $50.45 target or 68.00% above today’s $30.03 share price. The 6 months bullish chart indicates low risk for the $8.34B company. The 1-year high was reported on Oct, 28 by Barchart.com. If the $50.45 price target is reached, the company will be worth $5.67 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 389,969 shares traded hands. Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) has risen 48.36% since March 28, 2016 and is uptrending. It has outperformed by 43.64% the S&P500.
Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) Ratings Coverage
Out of 5 analysts covering Sociedad Quimica y Minera de Chile (NYSE:SQM), 2 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 40% are positive. Sociedad Quimica y Minera de Chile has been the topic of 11 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating by JP Morgan given on Wednesday, September 30. The rating was upgraded by Bank of America to “Buy” on Friday, December 18. The stock of Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) earned “Buy” rating by HSBC on Wednesday, October 19. The stock has “Sell” rating given by Citigroup on Wednesday, July 13. HSBC downgraded Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) on Tuesday, November 17 to “Hold” rating. Santander upgraded the stock to “Hold” rating in Tuesday, December 8 report. The stock has “Hold” rating given by Zacks on Friday, August 28.
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.”
More news for Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM) were recently published by: Marketwatch.com, which released: “Sociedad Quimica y Minera De Chile SA ADR” on December 21, 2009. Quotes.Wsj.com‘s article titled: “DOW JONES, A NEWS CORP COMPANY” and published on February 12, 2011 is yet another important article.
SQM Company Profile
Sociedad Quimica y Minera de Chile S.A. (SQM), incorporated on June 29, 1968, is a producer of potassium nitrate and iodine. The Firm produces specialty plant nutrients, iodine derivatives, lithium and its derivatives, potassium chloride, potassium sulfate and certain industrial chemicals (including industrial nitrates and solar salts). The Company’s divisions include specialty plant nutrients, industrial chemicals, iodine and derivatives, lithium and derivatives, potassium, and other services and products.
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