Handelsbanken Fonder AB Buys 244,310 Shares of Sigma Lithium Corporation $SGML

Handelsbanken Fonder AB lifted its stake in Sigma Lithium Corporation (NASDAQ:SGML) by 37.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 888,544 shares of the company’s stock after purchasing an additional 244,310 shares during the period. Handelsbanken Fonder AB owned about 0.80% of Sigma Lithium worth $11,720,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in SGML. Van ECK Associates Corp grew its holdings in shares of Sigma Lithium by 142.8% in the third quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock worth $29,529,000 after purchasing an additional 2,709,397 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Sigma Lithium by 26.6% in the third 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 last quarter. Old West Investment Management LLC grew its holdings in shares of Sigma Lithium by 1,163.3% in 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. Verition Fund Management LLC bought a new position in shares of Sigma Lithium in the third quarter worth about $3,603,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Sigma Lithium by 104.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 900,000 shares of the company’s stock worth $4,050,000 after purchasing an additional 460,000 shares during the last quarter. 64.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SGML. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Canaccord Genuity Group upgraded shares of Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Wall Street Zen upgraded shares of Sigma Lithium from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.50.

Sigma Lithium Stock Up 1.4%

NASDAQ:SGML opened at $15.55 on Friday. Sigma Lithium Corporation has a 1-year low of $4.25 and a 1-year high of $24.48. The company has a 50-day moving average of $16.12 and a 200 day moving average of $13.28. The firm has a market cap of $1.73 billion, a PE ratio of -39.87 and a beta of 0.64. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.14.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings data on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The company had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. As a group, research analysts anticipate that Sigma Lithium Corporation will post 0.92 EPS for the current fiscal year.

Sigma Lithium 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.