Sigma Lithium Corporation (NASDAQ:SGML) Given Consensus Recommendation of “Hold” by Analysts

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have earned a consensus rating of “Hold” from the six brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $17.50.

Several analysts have issued reports on the stock. Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Bank of America raised shares of 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. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Monday, December 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $18.00 price target on shares of Sigma Lithium in a report on Wednesday, January 14th. Finally, Citigroup downgraded shares of Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th.

Sigma Lithium Price Performance

SGML stock opened at $10.46 on Tuesday. The firm has a market cap of $1.17 billion, a P/E ratio of -33.74, a price-to-earnings-growth ratio of 0.27 and a beta of -0.06. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. Sigma Lithium has a 1 year low of $4.25 and a 1 year high of $16.88. The stock has a 50-day simple moving average of $12.38 and a 200-day simple moving average of $10.22.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its holdings in Sigma Lithium by 9.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock worth $1,178,000 after purchasing an additional 9,748 shares during the last quarter. Legal & General Group Plc raised its position in shares of Sigma Lithium by 31.8% in the 2nd quarter. Legal & General Group Plc now owns 1,305,075 shares of the company’s stock valued at $5,948,000 after purchasing an additional 314,711 shares in the last quarter. Norges Bank purchased a new position in shares of Sigma Lithium during the 2nd quarter valued at approximately $11,250,000. Invesco Ltd. grew its position in shares of Sigma Lithium by 22.2% during the second quarter. Invesco Ltd. now owns 899,945 shares of the company’s stock worth $4,050,000 after buying an additional 163,335 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Sigma Lithium during the second quarter worth approximately $560,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

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.