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

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, 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 twelve-month price target among brokers that have issued a report on the stock in the last year is $18.50.

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

Sigma Lithium Trading Down 1.9%

Shares of SGML opened at $12.41 on Thursday. Sigma Lithium has a twelve month low of $4.40 and a twelve month high of $24.48. The company has a market cap of $1.39 billion, a P/E ratio of -31.82 and a beta of 0.59. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $16.50 and its 200-day simple moving average is $14.41.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $42.34 million during the quarter, compared to analysts’ expectations 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, analysts expect that Sigma Lithium will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC purchased a new position in Sigma Lithium in the 4th quarter worth about $51,000. GF Fund Management CO. LTD. bought a new position in Sigma Lithium in the 4th quarter worth about $57,000. Deutsche Bank AG purchased a new position in shares of Sigma Lithium during the fourth quarter worth approximately $101,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Sigma Lithium during the third quarter worth approximately $71,000. Finally, Quantbot Technologies LP purchased a new position in shares of Sigma Lithium during the third quarter worth approximately $82,000. 64.86% of the stock is currently owned by institutional investors.

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.