Sigma Lithium Corporation (NASDAQ:SGML) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Sigma Lithium Corporation (NASDAQ:SGML) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $18.50.

Several brokerages have recently issued reports on SGML. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research report on Wednesday, June 24th. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and upped their price target for the company from $14.00 to $17.00 in a research note on Thursday, April 2nd. Finally, Wall Street Zen upgraded shares of Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st.

Sigma Lithium Trading Down 1.9%

Shares of SGML stock opened at $12.41 on Thursday. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -31.82 and a beta of 0.59. Sigma Lithium has a 12-month low of $4.40 and a 12-month high of $24.48. The stock’s 50-day moving average price is $16.50 and its 200-day moving average price is $14.41.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. Equities research analysts predict that Sigma Lithium will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SGML. Van ECK Associates Corp increased its stake in Sigma Lithium by 142.8% during the third quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock worth $29,529,000 after acquiring an additional 2,709,397 shares during the last quarter. Polymer Capital Management HK LTD bought a new stake in shares of Sigma Lithium in the 4th quarter valued at approximately $660,000. Encompass Capital Advisors LLC bought a new stake in shares of Sigma Lithium in the 4th quarter valued at approximately $16,463,000. Keystone Investors PTE Ltd. purchased a new position in shares of Sigma Lithium in the 4th quarter worth approximately $1,103,000. Finally, Legal & General Group Plc boosted its holdings in shares of Sigma Lithium by 101.7% in the 4th quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock worth $34,911,000 after purchasing an additional 1,334,772 shares during the period. Institutional investors own 64.86% of the company’s stock.

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.