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

Sigma Lithium Corporation (NASDAQ:SGML) has been assigned an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.50.

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $17.00 in a research note on Thursday, April 2nd. BMO Capital Markets reissued an “outperform” rating and set a $18.00 target price on shares of Sigma Lithium in a research report on Wednesday, January 14th. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Finally, Wall Street Zen raised shares of Sigma Lithium from a “sell” rating to a “hold” rating in a report on Saturday, April 4th.

Hedge Funds Weigh In On Sigma Lithium

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new stake in Sigma Lithium during the 4th quarter valued at about $51,000. GF Fund Management CO. LTD. acquired a new position in shares of Sigma Lithium in the fourth quarter valued at about $57,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Sigma Lithium in the third quarter worth about $71,000. Quantbot Technologies LP acquired a new stake in shares of Sigma Lithium during the third quarter worth about $82,000. Finally, Nebula Research & Development LLC acquired a new stake in shares of Sigma Lithium during the second quarter worth about $87,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Stock Up 2.9%

Sigma Lithium stock opened at $20.88 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.14. The stock has a market capitalization of $2.33 billion, a price-to-earnings ratio of -46.40 and a beta of 0.64. Sigma Lithium has a 1-year low of $4.25 and a 1-year high of $24.48. The business has a fifty day moving average price of $15.63 and a 200-day moving average price of $12.77.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Monday, March 30th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.10). Sigma Lithium had a negative net margin of 45.64% and a negative return on equity of 59.34%. The business had revenue of $16.90 million for the quarter, compared to analyst estimates of $52.20 million. Equities research analysts forecast that Sigma Lithium will post 0.92 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.