SIR Capital Management L.P. Trims Position in Sigma Lithium Corporation $SGML

SIR Capital Management L.P. lessened its stake in shares of Sigma Lithium Corporation (NASDAQ:SGML) by 60.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 597,237 shares of the company’s stock after selling 905,953 shares during the quarter. SIR Capital Management L.P. owned about 0.54% of Sigma Lithium worth $7,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Polymer Capital Management HK LTD purchased a new position in Sigma Lithium during the 4th quarter valued at about $660,000. Keystone Investors PTE Ltd. purchased a new position in Sigma Lithium during the 4th quarter valued at about $1,103,000. HRT Financial LP purchased a new position in Sigma Lithium during the 4th quarter valued at about $1,337,000. Brooklyn Investment Group purchased a new position in Sigma Lithium during the 4th quarter valued at about $745,000. Finally, Alps Advisors Inc. grew its holdings in Sigma Lithium by 9.5% during the 4th quarter. Alps Advisors Inc. now owns 295,076 shares of the company’s stock valued at $3,892,000 after buying an additional 25,630 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Analyst Upgrades and Downgrades

SGML has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Wall Street Zen lowered Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday. Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Finally, Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Sigma Lithium Stock Up 8.5%

Shares of SGML opened at $15.98 on Friday. The firm has a market cap of $1.79 billion, a P/E ratio of -40.97 and a beta of 0.54. The stock has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $14.16. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. Sigma Lithium Corporation has a 1 year low of $4.25 and a 1 year high of $24.48.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $42.34 million during the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. On average, analysts forecast that Sigma Lithium Corporation will post 1.15 earnings per share for the current fiscal 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.