<div id="readability-page-1">Sociedad Quimica y Minera de Chile (SQM) -4.5% in Thursday's trading after the Chilean lithium company was downgraded to Neutral from Buy with a $63 price target at Goldman Sachs, pointing to lower than expected lithium prices. Goldman analyst Marcio Farid said his Buy rating on SQM (SQM) had been supported by expectations of a cyclical lithium pri...</div>

<p>Goldman Sachs downgraded Sociedad Quimica y Minera de Chile (SQM) to Neutral from Buy with a $63 price target, citing lower than expected lithium prices. Analyst Marcio Farid noted the stock's 80% YTD rally and 115% rise since June 2025, indicating it has run ahead of fundamentals. Farid expects elevated capex and pressure on free cash flow, but sees solid operational performance and long-term growth potential.</p>

SQM downgraded at Goldman as shares run ahead of fundamentals