Sigma Lithium (NASDAQ:SGML) Sets New 12-Month High – Should You Buy?

Sigma Lithium Corporation (NASDAQ:SGML)’s share price reached a new 52-week high on Monday . The company traded as high as $14.25 and last traded at $13.2920, with a volume of 1142472 shares trading hands. The stock had previously closed at $12.19.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SGML. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Bank of America downgraded shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 price objective for the company. in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sigma Lithium presently has a consensus rating of “Reduce” and a consensus target price of $7.00.

Sigma Lithium Stock Down 0.3%

The business has a 50-day simple moving average of $8.47 and a two-hundred day simple moving average of $6.83. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of -43.37 and a beta of 0.02.

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). Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%.The business had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. As a group, equities analysts predict that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Institutional Trading of Sigma Lithium

Hedge funds have recently made changes to their positions in the company. BTG Pactual Asset Management US LLC purchased a new stake in shares of Sigma Lithium in the third quarter valued at about $71,000. Malaga Cove Capital LLC acquired a new stake in Sigma Lithium in the second quarter valued at about $52,000. Quantbot Technologies LP purchased a new stake in Sigma Lithium in the 3rd quarter valued at approximately $82,000. ProShare Advisors LLC acquired a new position in Sigma Lithium during the 3rd quarter worth approximately $90,000. Finally, Banque Cantonale Vaudoise increased its position in Sigma Lithium by 7,339.9% during the 3rd quarter. Banque Cantonale Vaudoise now owns 15,103 shares of the company’s stock worth $97,000 after purchasing an additional 14,900 shares during the period. Institutional investors and hedge funds 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.