Sigma Lithium Corporation (NASDAQ:SGML) Given Consensus Recommendation of “Moderate Buy” by Analysts

Sigma Lithium Corporation (NASDAQ:SGML) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $18.50.

A number of research analysts have recently commented on SGML shares. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Wednesday, June 24th. Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price objective for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Finally, Zacks Research upgraded Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st.

Sigma Lithium Trading Down 2.3%

SGML opened at $11.53 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -29.56 and a beta of 0.58. The business has a 50 day simple moving average of $15.64 and a two-hundred day simple moving average of $14.46. Sigma Lithium has a one year low of $4.61 and a one year high of $24.48.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The company had revenue of $16.90 million during the quarter, compared to analyst estimates of $42.48 million. Analysts predict that Sigma Lithium will post 1.15 EPS for the current year.

Institutional Trading of Sigma Lithium

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in Sigma Lithium by 142.8% in the 3rd quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock worth $29,529,000 after acquiring an additional 2,709,397 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in Sigma Lithium in the 4th quarter worth $660,000. Encompass Capital Advisors LLC purchased a new stake in shares of Sigma Lithium in the fourth quarter worth about $16,463,000. Keystone Investors PTE Ltd. purchased a new stake in shares of Sigma Lithium during the 4th quarter worth approximately $1,103,000. Finally, Legal & General Group Plc lifted its position 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 during the last quarter. Hedge funds and other 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.