Legal & General Group Plc Boosts Stock Position in Sigma Lithium Corporation $SGML

Legal & General Group Plc boosted its holdings in Sigma Lithium Corporation (NASDAQ:SGML) by 101.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,647,004 shares of the company’s stock after buying an additional 1,334,772 shares during the quarter. Legal & General Group Plc owned approximately 2.38% of Sigma Lithium worth $34,911,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SGML. Van ECK Associates Corp grew its holdings in shares of 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 purchasing an additional 2,709,397 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Sigma Lithium during the third quarter worth about $4,130,000. Woodline Partners LP grew its holdings in shares of Sigma Lithium by 26.6% during 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% during 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. Finally, Verition Fund Management LLC purchased a new position in shares of Sigma Lithium during the third quarter worth about $3,603,000. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a report on Saturday, May 23rd. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Finally, Bank of America raised Sigma Lithium from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Sigma Lithium has an average rating of “Moderate Buy” and an average target price of $18.50.

Sigma Lithium Price Performance

Shares of SGML opened at $16.77 on Friday. Sigma Lithium Corporation has a fifty-two week low of $4.25 and a fifty-two week high of $24.48. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of -43.00 and a beta of 0.64. The firm has a 50-day simple moving average of $16.59 and a 200-day simple moving average of $13.65. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.25 and a current ratio of 0.32.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The business had revenue of $42.34 million during the quarter, compared to the consensus estimate of $42.48 million. On average, equities research analysts anticipate that Sigma Lithium Corporation will post 1.15 earnings per share for the current year.

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.