Sigma Lithium (NASDAQ:SGML) Hits New 52-Week High – Here’s What Happened

Sigma Lithium Corporation (NASDAQ:SGML)’s share price hit a new 52-week high on Tuesday . The company traded as high as $16.72 and last traded at $15.7710, with a volume of 217204 shares. The stock had previously closed at $15.66.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SGML shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 target price on shares of Sigma Lithium in a research report on Wednesday. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th. Bank of America restated an “underperform” rating and issued a $13.00 target price (up from $11.00) on shares of Sigma Lithium in a research note on Thursday, January 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Sigma Lithium currently has an average rating of “Reduce” and a consensus target price of $15.50.

Sigma Lithium Stock Performance

The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38. The stock has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $7.87. The company has a market capitalization of $1.59 billion and a price-to-earnings ratio of -45.97.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The business had revenue of $28.55 million during the quarter, compared to analyst estimates of $70.54 million. As a group, analysts anticipate that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently bought and sold shares of SGML. Malaga Cove Capital LLC bought a new position in shares of Sigma Lithium in the second quarter valued at approximately $52,000. BTG Pactual Asset Management US LLC bought a new position in Sigma Lithium during the 3rd quarter valued at $71,000. Quantbot Technologies LP bought a new position in Sigma Lithium during the 3rd quarter valued at $82,000. Hunting Hill Global Capital LLC bought a new stake in shares of Sigma Lithium in the 2nd quarter worth $86,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Sigma Lithium in the 2nd quarter worth $87,000. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Company Profile

Sigma Lithium Corp. is a Canada-based mineral exploration and development company focused on the sustainable production of battery-grade lithium from hard rock deposits. The company’s flagship asset is the Grota do Cirilo lithium project, located in the state of Minas Gerais, Brazil. Grota do Cirilo comprises a fully permitted, low-altitude spodumene mine and processing plant designed to produce high-purity lithium concentrate and downstream lithium hydroxide for the global electric vehicle and energy storage markets.

Since its founding in 2018, Sigma Lithium has pursued a vertically integrated approach, overseeing each stage of production from ore extraction and beneficiation to chemical conversion.