Sigma Lithium Corporation (NASDAQ:SGML) Given Average Rating of “Hold” by Brokerages

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

SGML has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Wednesday, June 24th. Zacks Research lowered Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd. Finally, Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors have recently modified their holdings of SGML. Polymer Capital Management HK LTD acquired a new stake in shares of Sigma Lithium in the 4th quarter worth about $660,000. Encompass Capital Advisors LLC bought a new stake in Sigma Lithium in the 4th quarter valued at about $16,463,000. Keystone Investors PTE Ltd. acquired a new position in Sigma Lithium during the 4th quarter valued at about $1,103,000. Handelsbanken Fonder AB boosted its stake in Sigma Lithium by 37.9% during the 4th quarter. Handelsbanken Fonder AB now owns 888,544 shares of the company’s stock valued at $11,720,000 after purchasing an additional 244,310 shares during the period. Finally, Legal & General Group Plc grew its position in Sigma Lithium by 101.7% in the 4th quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock worth $34,911,000 after purchasing an additional 1,334,772 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Shares of NASDAQ:SGML opened at $9.63 on Monday. The company has a market cap of $1.08 billion, a PE ratio of -24.69 and a beta of 0.58. Sigma Lithium has a fifty-two week low of $4.61 and a fifty-two week high of $24.48. The firm has a 50-day simple moving average of $13.24 and a 200 day simple moving average of $14.22. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The firm had revenue of $16.90 million for the quarter, compared to analysts’ expectations of $42.48 million. On average, sell-side analysts anticipate that Sigma Lithium will post 1.15 EPS for the current year.

About Sigma Lithium

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.