SIR Capital Management L.P. Acquires New Holdings in Sigma Lithium Corporation $SGML

SIR Capital Management L.P. bought a new position in Sigma Lithium Corporation (NASDAQ:SGML) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 375,793 shares of the company’s stock, valued at approximately $4,754,000. SIR Capital Management L.P. owned about 0.33% of Sigma Lithium as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in shares of Sigma Lithium by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after purchasing an additional 9,748 shares during the period. Invesco Ltd. grew its stake in Sigma Lithium by 22.2% in the 2nd quarter. Invesco Ltd. now owns 899,945 shares of the company’s stock valued at $4,050,000 after buying an additional 163,335 shares during the last quarter. Marshall Wace LLP acquired a new position in Sigma Lithium in the 2nd quarter valued at $560,000. Jump Financial LLC bought a new position in Sigma Lithium in the 2nd quarter worth $131,000. Finally, Nebula Research & Development LLC bought a new position in Sigma Lithium in the 2nd quarter worth $87,000. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Stock Up 2.0%

SGML opened at $12.21 on Tuesday. The business has a 50 day moving average of $11.52 and a 200-day moving average of $13.84. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -50.87 and a beta of 0.61. The company has a current ratio of 0.34, a quick ratio of 0.25 and a debt-to-equity ratio of 1.25. Sigma Lithium Corporation has a 1-year low of $4.61 and a 1-year high of $24.48.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). The company had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. As a group, sell-side analysts anticipate that Sigma Lithium Corporation will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SGML. Weiss Ratings lowered shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.