Sigma Lithium Corporation (NASDAQ:SGML) Given Average Rating of “Hold” by Brokerages

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have earned an average rating of “Hold” from the six analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $17.50.

A number of equities research analysts have weighed in on SGML shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 29th. Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Bank of America raised Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 target price on the stock in a research report on Tuesday, February 3rd. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Citigroup cut Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th.

Sigma Lithium Stock Performance

NASDAQ SGML opened at $16.22 on Friday. The stock has a fifty day simple moving average of $13.42 and a 200-day simple moving average of $9.41. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. The stock has a market cap of $1.81 billion and a PE ratio of -52.32. Sigma Lithium has a twelve month low of $4.25 and a twelve month high of $16.88.

Institutional Investors Weigh In On Sigma Lithium

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new position in Sigma Lithium in the 4th quarter valued at approximately $51,000. Malaga Cove Capital LLC purchased a new position in Sigma Lithium in the second quarter valued at $52,000. GF Fund Management CO. LTD. purchased a new position in Sigma Lithium in the fourth quarter valued at $57,000. BTG Pactual Asset Management US LLC acquired a new position in Sigma Lithium during the 3rd quarter worth $71,000. Finally, Quantbot Technologies LP purchased a new stake in Sigma Lithium during the 3rd quarter worth about $82,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

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.