Alps Advisors Inc. Grows Position in Sigma Lithium Corporation $SGML

Alps Advisors Inc. raised its position in Sigma Lithium Corporation (NASDAQ:SGML) by 37.1% during the third quarter, HoldingsChannel.com reports. The firm owned 269,446 shares of the company’s stock after purchasing an additional 72,979 shares during the period. Alps Advisors Inc.’s holdings in Sigma Lithium were worth $1,727,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Waratah Capital Advisors Ltd. raised its holdings in shares of Sigma Lithium by 93.0% in the second quarter. Waratah Capital Advisors Ltd. now owns 227,330 shares of the company’s stock worth $1,023,000 after buying an additional 109,530 shares during the period. CenterBook Partners LP boosted its holdings in Sigma Lithium by 416.8% during the 2nd quarter. CenterBook Partners LP now owns 816,515 shares of the company’s stock valued at $3,674,000 after acquiring an additional 658,533 shares during the period. Aberdeen Group plc bought a new position in Sigma Lithium in the 2nd quarter valued at $187,000. Monaco Asset Management SAM purchased a new stake in Sigma Lithium in the second quarter worth $225,000. Finally, Old West Investment Management LLC lifted its position in shares of Sigma Lithium by 1,163.3% during the third quarter. Old West Investment Management LLC now owns 651,892 shares of the company’s stock worth $4,179,000 after purchasing an additional 600,291 shares during the last quarter. Institutional investors own 64.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SGML. BMO Capital Markets restated an “outperform” rating and issued a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Canaccord Genuity Group upgraded shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Citigroup lowered shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research report on Thursday, January 8th. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Sigma Lithium presently has an average rating of “Hold” and an average price target of $17.50.

Sigma Lithium Trading Down 3.7%

Shares of NASDAQ SGML opened at $11.59 on Wednesday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The stock has a market capitalization of $1.29 billion and a P/E ratio of -37.39. Sigma Lithium Corporation has a 1-year low of $4.25 and a 1-year high of $16.87. The business has a fifty day moving average price of $12.73 and a 200 day moving average price of $8.77.

Sigma Lithium (NASDAQ:SGML) last posted its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%. Equities research analysts expect that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

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.