Sigma Lithium Corporation (NASDAQ:SGML) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.50.

SGML has been the topic of several research reports. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. BMO Capital Markets restated an “outperform” rating and set a $18.00 price objective on shares of Sigma Lithium in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Bank of America upgraded Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 price objective on the stock in a research report on Tuesday, February 3rd.

Hedge Funds Weigh In On Sigma Lithium

A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in shares of Sigma Lithium by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after buying an additional 9,748 shares during the period. Levin Capital Strategies L.P. lifted its stake in shares of Sigma Lithium by 125.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 22,500 shares of the company’s stock worth $101,000 after purchasing an additional 12,500 shares during the period. Malaga Cove Capital LLC purchased a new position in shares of Sigma Lithium during the 2nd quarter worth $52,000. Credit Industriel ET Commercial boosted its holdings in shares of Sigma Lithium by 177.8% during the second quarter. Credit Industriel ET Commercial now owns 250,000 shares of the company’s stock worth $1,125,000 after purchasing an additional 160,000 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of Sigma Lithium in the second quarter valued at $225,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $12.61 on Friday. The firm has a market capitalization of $1.40 billion, a PE ratio of -40.68, a P/E/G ratio of 0.38 and a beta of -0.06. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $16.88. The firm’s 50-day simple moving average is $13.46 and its 200 day simple moving average is $9.62. The company has a quick ratio of 0.32, a current ratio of 0.49 and a debt-to-equity ratio of 1.38.

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.