Turim 21 Investimentos Ltda. Makes New Investment in Sigma Lithium Corporation $SGML

Turim 21 Investimentos Ltda. bought a new stake in shares of Sigma Lithium Corporation (NASDAQ:SGML) in the fourth quarter, Holdings Channel.com reports. The fund bought 55,000 shares of the company’s stock, valued at approximately $723,000. Sigma Lithium accounts for 0.3% of Turim 21 Investimentos Ltda.’s portfolio, making the stock its 23rd largest position.

A number of other hedge funds have also recently made changes to their positions in SGML. Farther Finance Advisors LLC bought a new stake in Sigma Lithium during the 4th quarter valued at about $51,000. GF Fund Management CO. LTD. bought a new stake in Sigma Lithium during the 4th quarter valued at about $57,000. BTG Pactual Asset Management US LLC bought a new stake in Sigma Lithium during the 3rd quarter valued at about $71,000. Quantbot Technologies LP bought a new stake in Sigma Lithium during the 3rd quarter valued at about $82,000. Finally, Nebula Research & Development LLC bought a new stake in Sigma Lithium during the 2nd quarter valued at about $87,000. 64.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SGML shares. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $17.00 in a report on Thursday, April 2nd. Wall Street Zen lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Sigma Lithium Stock Performance

SGML stock opened at $14.80 on Wednesday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -37.95 and a beta of 0.54. The firm has a 50-day simple moving average of $17.43 and a two-hundred day simple moving average of $14.26. Sigma Lithium Corporation has a one year low of $4.25 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.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data on Friday, May 15th. The company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The business had revenue of $42.34 million for the quarter, compared to analyst estimates of $42.48 million. On average, equities analysts forecast that Sigma Lithium Corporation will post 1.15 EPS for the current fiscal year.

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.