Analysts Set Sigma Lithium Corporation (NASDAQ:SGML) PT at $18.50

Sigma Lithium Corporation (NASDAQ:SGML) has earned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

Several equities research analysts have commented on SGML shares. Zacks Research lowered Sigma Lithium from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 19th. Weiss Ratings lowered shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday, August 8th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Sigma Lithium during the 2nd quarter worth about $29,727,000. Legal & General Group Plc increased its stake in shares of Sigma Lithium by 101.7% in the 4th quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $34,911,000 after purchasing an additional 1,334,772 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in Sigma Lithium in the 4th quarter worth about $16,463,000. Woodline Partners LP raised its holdings in Sigma Lithium by 26.6% in the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock worth $19,005,000 after purchasing an additional 623,832 shares during the period. Finally, Verition Fund Management LLC purchased a new position in Sigma Lithium during the third quarter worth approximately $3,603,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Stock Performance

NASDAQ SGML opened at $12.61 on Friday. The firm has a market capitalization of $1.42 billion, a P/E ratio of -52.54 and a beta of 0.61. The stock has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $13.84. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. Sigma Lithium has a fifty-two week low of $4.61 and a fifty-two week high of $24.48.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.25). The company had revenue of $54.70 million during the quarter, compared to analysts’ expectations of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. On average, equities analysts forecast that Sigma Lithium will post 0.45 earnings per share for the current 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.