SG Americas Securities LLC Takes $1.64 Million Position in Sigma Lithium Corporation $SGML

SG Americas Securities LLC purchased a new position in Sigma Lithium Corporation (NASDAQ:SGML) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 132,855 shares of the company’s stock, valued at approximately $1,639,000. SG Americas Securities LLC owned approximately 0.12% of Sigma Lithium at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in SGML. Van ECK Associates Corp increased its stake in Sigma Lithium by 142.8% in the 3rd quarter. Van ECK Associates Corp now owns 4,606,668 shares of the company’s stock valued at $29,529,000 after buying an additional 2,709,397 shares during the period. Legal & General Group Plc boosted its stake in shares of Sigma Lithium by 101.7% during the 4th quarter. Legal & General Group Plc now owns 2,647,004 shares of the company’s stock valued at $34,911,000 after buying an additional 1,334,772 shares during the period. Encompass Capital Advisors LLC purchased a new position in shares of Sigma Lithium during the 4th quarter valued at $16,463,000. Woodline Partners LP grew its holdings in shares of Sigma Lithium by 26.6% during the 3rd quarter. Woodline Partners LP now owns 2,964,909 shares of the company’s stock valued at $19,005,000 after acquiring an additional 623,832 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of Sigma Lithium in the third quarter worth $3,603,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SGML has been the subject of several recent research reports. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Zacks Research raised Sigma Lithium from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 21st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research report on Wednesday, June 24th. Finally, Wall Street Zen raised Sigma Lithium from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Sigma Lithium Price Performance

NASDAQ SGML opened at $12.29 on Friday. Sigma Lithium Corporation has a fifty-two week low of $4.61 and a fifty-two week high of $24.48. The stock’s 50-day moving average is $16.33 and its two-hundred day moving average is $14.42. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.32 and a quick ratio of 0.25. The firm has a market cap of $1.38 billion, a P/E ratio of -31.51 and a beta of 0.58.

Sigma Lithium (NASDAQ:SGML) last released its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $16.90 million during the quarter, compared to the consensus estimate of $42.48 million. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%. On average, analysts anticipate that Sigma Lithium Corporation will post 1.15 earnings per share 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.