Sigma Lithium Corporation (NASDAQ:SGML) Given Average Recommendation of “Reduce” by Analysts

by · The Markets Daily

Sigma Lithium Corporation (NASDAQ:SGML – Get Free Report) has earned an average rating of “Reduce” from the five analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $15.50.

A number of research firms have recently commented on SGML. Bank of America reissued an “underperform” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Sigma Lithium in a research note on Thursday, January 8th. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $18.00 target price on shares of Sigma Lithium in a report on Wednesday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th.

Get Our Latest Stock Report on SGML

Sigma Lithium Stock Up 6.7%

SGML stock opened at $16.59 on Thursday. The firm’s 50-day moving average is $11.17 and its two-hundred day moving average is $7.87. The company has a market capitalization of $1.85 billion and a price-to-earnings ratio of -53.51. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $16.87. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) EPS for the quarter, meeting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The business had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. On average, analysts forecast that Sigma Lithium will post -0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds have recently modified their holdings of SGML. Woodline Partners LP lifted its holdings in shares of Sigma Lithium by 26.6% during the third quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock valued at $19,005,000 after purchasing an additional 623,832 shares during the last quarter. XTX Topco Ltd acquired a new stake in Sigma Lithium during the 3rd quarter worth about $632,000. Verition Fund Management LLC acquired a new stake in Sigma Lithium during the 3rd quarter worth about $3,603,000. Millennium Management LLC lifted its stake in Sigma Lithium by 6.4% during the third quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock valued at $520,000 after buying an additional 4,909 shares in the last quarter. Finally, Lighthouse Investment Partners LLC boosted its holdings in shares of Sigma Lithium by 27.1% in the third quarter. Lighthouse Investment Partners LLC now owns 538,983 shares of the company’s stock worth $3,455,000 after buying an additional 114,768 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

About Sigma Lithium

(Get Free Report)

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.

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