Waratah Capital Advisors Ltd. Raises Holdings in Sigma Lithium Corporation $SGML

Waratah Capital Advisors Ltd. lifted its holdings in Sigma Lithium Corporation (NASDAQ:SGML) by 93.0% during the second quarter, Holdings Channel reports. The institutional investor owned 227,330 shares of the company’s stock after purchasing an additional 109,530 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Sigma Lithium were worth $1,023,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Appian Way Asset Management LP increased its holdings in shares of Sigma Lithium by 5.3% in the 1st quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company’s stock valued at $51,615,000 after purchasing an additional 250,581 shares in the last quarter. Woodline Partners LP lifted its position in Sigma Lithium by 65.6% during the first quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock worth $27,856,000 after buying an additional 1,060,771 shares during the period. Decade Renewable Partners LP boosted its stake in Sigma Lithium by 2.4% in the 1st quarter. Decade Renewable Partners LP now owns 882,621 shares of the company’s stock worth $9,179,000 after buying an additional 20,760 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Sigma Lithium by 95.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 440,000 shares of the company’s stock valued at $4,576,000 after buying an additional 215,000 shares during the period. Finally, Credit Industriel ET Commercial grew its holdings in Sigma Lithium by 177.8% in the 2nd quarter. Credit Industriel ET Commercial now owns 250,000 shares of the company’s stock valued at $1,125,000 after buying an additional 160,000 shares during the period. Institutional investors and hedge funds own 64.86% of the company’s stock.

Analyst Ratings Changes

SGML has been the topic of several research analyst reports. Wall Street Zen cut shares of Sigma Lithium from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sigma Lithium in a research note on Wednesday, October 8th. Bank of America lowered shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a report on Friday, October 24th. Cormark upgraded shares of Sigma Lithium to a “moderate buy” rating in a research note on Thursday, August 21st. Finally, Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Monday, October 27th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $7.00.

Sigma Lithium Stock Performance

SGML stock opened at $6.06 on Friday. The company has a 50-day simple moving average of $6.21 and a 200 day simple moving average of $6.01. The company has a market capitalization of $674.96 million, a P/E ratio of -19.55 and a beta of 0.08. The company has a quick ratio of 0.39, a current ratio of 0.60 and a debt-to-equity ratio of 1.26. Sigma Lithium Corporation has a fifty-two week low of $4.25 and a fifty-two week high of $14.71.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The company had revenue of $28.55 million during the quarter, compared to analyst estimates of $70.54 million. Sigma Lithium had a negative return on equity of 47.19% and a negative net margin of 35.69%. Sell-side analysts predict that Sigma Lithium Corporation will post -0.12 earnings per share for the current fiscal year.

Sigma Lithium Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.