Handelsbanken Fonder AB Buys Shares of 644,234 Sigma Lithium Corporation $SGML

Handelsbanken Fonder AB purchased a new position in shares of Sigma Lithium Corporation (NASDAQ:SGML) during the third quarter, Holdings Channel.com reports. The fund purchased 644,234 shares of the company’s stock, valued at approximately $4,130,000.

A number of other institutional investors also recently made changes to their positions in SGML. Norges Bank bought a new position in shares of Sigma Lithium in the second quarter valued at approximately $11,250,000. CenterBook Partners LP lifted its position in Sigma Lithium by 416.8% in the second quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock worth $3,674,000 after purchasing an additional 658,533 shares during the period. Old West Investment Management LLC boosted its stake in Sigma Lithium by 1,163.3% during the 3rd quarter. Old West Investment Management LLC now owns 651,892 shares of the company’s stock valued at $4,179,000 after purchasing an additional 600,291 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Sigma Lithium by 104.5% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the company’s stock valued at $4,050,000 after purchasing an additional 460,000 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Sigma Lithium by 67.6% in the 2nd quarter. Bank of America Corp DE now owns 1,041,043 shares of the company’s stock worth $4,685,000 after buying an additional 419,740 shares in the last quarter. 64.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of Sigma Lithium in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. Finally, Citigroup cut shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a report on Thursday, January 8th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.50.

Sigma Lithium Trading Down 2.7%

Shares of SGML opened at $14.02 on Tuesday. The business’s 50-day moving average price is $13.48 and its 200 day moving average price is $9.57. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $1.56 billion, a P/E ratio of -45.22, a P/E/G ratio of 0.39 and a beta of -0.06. Sigma Lithium Corporation has a 1-year low of $4.25 and a 1-year high of $16.88.

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.