Sigma Lithium Corporation (NASDAQ:SGML) Receives Average Recommendation of “Hold” from Analysts

Sigma Lithium Corporation (NASDAQ:SGML) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

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

Sigma Lithium Stock Performance

Shares of SGML opened at $9.63 on Monday. The company has a market capitalization of $1.08 billion, a P/E ratio of -24.69 and a beta of 0.58. Sigma Lithium has a one year low of $4.61 and a one year high of $24.48. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32. The stock has a 50-day moving average price of $13.24 and a 200 day moving average price of $14.22.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $16.90 million for the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. Sell-side analysts forecast that Sigma Lithium will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Polymer Capital Management HK LTD acquired a new stake in shares of Sigma Lithium during the 4th quarter valued at approximately $660,000. Encompass Capital Advisors LLC bought a new position in Sigma Lithium during the fourth quarter worth $16,463,000. Keystone Investors PTE Ltd. acquired a new position in Sigma Lithium in the fourth quarter worth $1,103,000. Handelsbanken Fonder AB boosted its holdings in Sigma Lithium by 37.9% in the fourth quarter. Handelsbanken Fonder AB now owns 888,544 shares of the company’s stock worth $11,720,000 after purchasing an additional 244,310 shares during the period. Finally, Legal & General Group Plc increased its stake in Sigma Lithium by 101.7% during the fourth quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $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 Company 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.