Sigma Lithium Corporation (NASDAQ:SGML) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $18.50.

SGML has been the subject of several recent analyst reports. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. 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. Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th.

Institutional Trading of Sigma Lithium

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its position in Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock valued at $99,000 after purchasing an additional 3,005 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in Sigma Lithium by 6.8% in the first quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company’s stock valued at $679,000 after purchasing an additional 3,489 shares during the last quarter. Farther Finance Advisors LLC bought a new stake in Sigma Lithium in the fourth quarter valued at approximately $51,000. Virtu Financial LLC lifted its position in Sigma Lithium by 26.6% in the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock valued at $129,000 after purchasing an additional 4,210 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new stake in Sigma Lithium in the fourth quarter valued at approximately $57,000. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Down 9.8%

Shares of SGML opened at $13.28 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32. The firm has a market cap of $1.49 billion, a P/E ratio of -34.05 and a beta of 0.54. Sigma Lithium has a fifty-two week low of $4.25 and a fifty-two week high of $24.48. The business has a 50-day moving average of $17.10 and a 200 day moving average of $13.98.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results 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 $42.34 million during the quarter, compared to analyst estimates 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, research analysts forecast that Sigma Lithium will post 1.15 EPS 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.