Handelsbanken Fonder AB Grows Stock Position in Sigma Lithium Corporation $SGML

Handelsbanken Fonder AB lifted its position in Sigma Lithium Corporation (NASDAQ:SGML) by 23.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,498,133 shares of the company’s stock after acquiring an additional 282,595 shares during the period. Handelsbanken Fonder AB’s holdings in Sigma Lithium were worth $18,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in SGML. Bank of America Corp DE raised its stake in Sigma Lithium by 138.4% in the 1st quarter. Bank of America Corp DE now owns 288,418 shares of the company’s stock valued at $3,559,000 after purchasing an additional 167,443 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Sigma Lithium by 18.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 242,990 shares of the company’s stock worth $2,989,000 after purchasing an additional 38,141 shares during the last quarter. Entropy Technologies LP boosted its stake in Sigma Lithium by 77.1% during the 1st quarter. Entropy Technologies LP now owns 31,349 shares of the company’s stock worth $387,000 after purchasing an additional 13,649 shares during the last quarter. Ariose Capital Management Ltd purchased a new stake in shares of Sigma Lithium during the first quarter worth $3,826,000. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Sigma Lithium by 6.8% during the first quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock worth $679,000 after buying an additional 3,489 shares in the last quarter. 64.86% of the stock is currently owned by hedge funds and other institutional investors.

Sigma Lithium Price Performance

Shares of SGML opened at $11.82 on Thursday. The firm has a 50-day simple moving average of $11.98 and a two-hundred day simple moving average of $13.90. The stock has a market cap of $1.33 billion, a PE ratio of -30.31 and a beta of 0.61. Sigma Lithium Corporation has a 1-year low of $4.61 and a 1-year high of $24.48. 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 (NASDAQ:SGML) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $16.90 million during the quarter, compared to analysts’ expectations of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. As a group, analysts forecast that Sigma Lithium Corporation will post 1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

SGML has been the subject of several research reports. Zacks Research cut shares of Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Sigma Lithium from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Finally, Wall Street Zen cut Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $18.50.

Sigma Lithium 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.