Sigma Lithium Corporation (NASDAQ:SGML) Receives Average Rating of “Hold” from Brokerages

Sigma Lithium Corporation (NASDAQ:SGML) has received an average rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.50.

Several analysts recently commented on SGML shares. Wall Street Zen raised Sigma Lithium from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Sigma Lithium in a report on Wednesday, January 14th. Finally, Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its position in shares of Sigma Lithium by 142.8% during the 3rd quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock valued at $29,529,000 after buying an additional 2,709,397 shares in the last quarter. Legal & General Group Plc lifted its holdings in Sigma Lithium by 101.7% during the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $34,911,000 after purchasing an additional 1,334,772 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Sigma Lithium during the fourth quarter worth about $16,463,000. Handelsbanken Fonder AB purchased a new stake in shares of Sigma Lithium during the third quarter worth about $4,130,000. Finally, Woodline Partners LP raised its position in shares of Sigma Lithium by 26.6% during the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock worth $19,005,000 after purchasing an additional 623,832 shares during the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Sigma Lithium Trading Up 2.9%

Shares of Sigma Lithium stock opened at $20.88 on Wednesday. Sigma Lithium has a 1 year low of $4.25 and a 1 year high of $24.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.14. The stock has a market cap of $2.33 billion, a PE ratio of -46.40 and a beta of 0.64. The firm has a fifty day moving average price of $15.63 and a 200 day moving average price of $12.77.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Monday, March 30th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.10). The company had revenue of $16.90 million for the quarter, compared to analyst estimates of $52.20 million. Sigma Lithium had a negative return on equity of 59.34% and a negative net margin of 45.64%. Equities research analysts predict that Sigma Lithium will post 0.92 earnings per share for the current year.

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.