Sigma Lithium Corporation (NASDAQ:SGML) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Sigma Lithium Corporation (NASDAQ:SGML) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $18.50.

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Saturday, May 23rd. Zacks Research upgraded Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 21st. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $17.00 in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th.

Hedge Funds Weigh In On Sigma Lithium

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its holdings in Sigma Lithium by 9.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock worth $1,178,000 after acquiring an additional 9,748 shares during the last quarter. Invesco Ltd. increased its holdings in Sigma Lithium by 22.2% in the 2nd quarter. Invesco Ltd. now owns 899,945 shares of the company’s stock worth $4,050,000 after acquiring an additional 163,335 shares during the last quarter. Marshall Wace LLP purchased a new stake in Sigma Lithium in the 2nd quarter worth about $560,000. Jump Financial LLC purchased a new stake in Sigma Lithium in the 2nd quarter worth about $131,000. Finally, Nebula Research & Development LLC purchased a new stake in Sigma Lithium in the 2nd quarter worth about $87,000. 64.86% of the stock is owned by hedge funds and other institutional investors.

Sigma Lithium Stock Performance

Shares of SGML stock opened at $13.28 on Friday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of -34.05 and a beta of 0.54. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $24.48. The company has a quick ratio of 0.25, a current ratio of 0.32 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $17.10 and a 200-day moving average of $13.98.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The company had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $42.48 million. On average, equities analysts forecast that Sigma Lithium 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.