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

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $18.50.

Several research firms have recently weighed in on SGML. Wall Street Zen downgraded shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research report on Friday, March 27th. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $17.00 in a research report on Thursday, April 2nd. Finally, Zacks Research raised shares of Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new position in Sigma Lithium during the fourth quarter valued at approximately $51,000. GF Fund Management CO. LTD. purchased a new position in Sigma Lithium during the fourth quarter valued at approximately $57,000. Deutsche Bank AG purchased a new position in Sigma Lithium during the fourth quarter valued at approximately $101,000. BTG Pactual Asset Management US LLC purchased a new position in Sigma Lithium during the third quarter valued at approximately $71,000. Finally, Quantbot Technologies LP purchased a new position in Sigma Lithium during the third quarter valued at approximately $82,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Stock Performance

Sigma Lithium stock opened at $15.98 on Friday. The firm’s 50 day simple moving average is $17.40 and its 200-day simple moving average is $14.16. The company has a market cap of $1.79 billion, a P/E ratio of -40.97 and a beta of 0.54. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. Sigma Lithium has a fifty-two week low of $4.25 and a fifty-two week high of $24.48.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $42.34 million for the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. As a group, equities research analysts predict 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.