Shares of Sociedad Química y Minera de Chile S.A. (SQM) are slipping nearly 10% on Monday morning despite no stock-related statement from the company. However, the stock was downgraded by Bank Of America.
According to PriceTargerts.com, Bank Of America's analyst has downgraded Sociedad Quimica's stock from Neutral to Underperform with a price target of $50.00, down from $67.00.
SQM is currently trading at $50.59, down $5.32 or 9.52%, on the NYSE. The stock has traded between $
Sociedad Química produces and distributes specialty plant nutrients, iodine and its derivatives, lithium and its derivatives, potassium chloride and sulfate, industrial chemicals, and other products and services worldwide.
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