Sigma Lithium (NASDAQ:SGML) Sets New 12-Month Low – Should You Sell?

Sigma Lithium Corporation (NASDAQ:SGML) shares reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $4.77 and last traded at $4.7910, with a volume of 314,894 shares traded. The stock had previously closed at $5.16.

Analyst Upgrades and Downgrades

SGML has been the topic of several research reports. Zacks Research lowered Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lowered shares of Sigma Lithium from an “overweight” rating to a “neutral” rating and set a $11.00 price objective for the company. in a research note on Friday, October 2nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a report on Wednesday. ATB Cormark Capital Markets raised shares of Sigma Lithium from a “hold” rating to a “moderate buy” rating in a research report on Thursday, October 15th. Finally, BMO Capital Markets lowered shares of Sigma Lithium from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a report on Thursday, October 1st. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.30.

Sigma Lithium Stock Performance

The business has a fifty day simple moving average of $8.72 and a two-hundred day simple moving average of $12.46. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.34 and a quick ratio of 0.25. The company has a market cap of $556.69 million, a PE ratio of -20.54 and a beta of 0.74.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The company had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $68.34 million. Research analysts anticipate that Sigma Lithium Corporation will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

Large investors have recently added to or reduced their stakes in the company. Aberdeen Group plc grew its position in shares of Sigma Lithium by 9.3% in the 3rd quarter. Aberdeen Group plc now owns 72,405 shares of the company’s stock worth $681,000 after buying an additional 6,178 shares during the last quarter. Alps Advisors Inc. lifted its position in Sigma Lithium by 7.1% during the third quarter. Alps Advisors Inc. now owns 339,248 shares of the company’s stock valued at $3,189,000 after acquiring an additional 22,424 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Sigma Lithium during the third quarter valued at approximately $153,000. TD Waterhouse Canada Inc. lifted its position in Sigma Lithium by 17.6% during the third quarter. TD Waterhouse Canada Inc. now owns 28,939 shares of the company’s stock valued at $272,000 after acquiring an additional 4,334 shares during the last quarter. Finally, Perpetual Ltd acquired a new stake in Sigma Lithium in the third quarter valued at approximately $361,000. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Company Profile

Sigma Lithium is a Canadian mining company focused on developing and producing lithium for the electric-vehicle and energy-storage industries. Its principal asset is the Grota do Cirilo hard-rock lithium project in Minas Gerais, Brazil. The company produces lithium concentrate from spodumene ore at its Brazilian operations, supplying material used in the lithium-ion battery supply chain. Sigma began commercial production at Grota do Cirilo in 2023. Sigma Lithium has emphasized more sustainable production practices at the project, including processing methods designed to reduce water use and avoid conventional tailings dams.