Brokerages Set Sigma Lithium Corporation (NASDAQ:SGML) Price Target at $18.50

Sigma Lithium Corporation (NASDAQ:SGMLGet Free Report) has been given a consensus recommendation of “Hold” by the six analysts that are presently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.50.

SGML has been the subject of a number of research reports. Bank of America upgraded Sigma Lithium from a “neutral” rating to a “buy” rating and increased their price target for the company from $14.00 to $17.00 in a research note on Thursday, April 2nd. Wall Street Zen upgraded shares of Sigma Lithium from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Canaccord Genuity Group upgraded Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research note on Friday, March 27th.

Check Out Our Latest Stock Report on SGML

Institutional Investors Weigh In On Sigma Lithium

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC purchased a new stake in shares of Sigma Lithium in the fourth quarter worth approximately $51,000. GF Fund Management CO. LTD. purchased a new stake in shares of Sigma Lithium during the 4th quarter valued at $57,000. BTG Pactual Asset Management US LLC bought a new stake in Sigma Lithium in the third quarter worth about $71,000. Quantbot Technologies LP bought a new stake in shares of Sigma Lithium in the 3rd quarter worth approximately $82,000. Finally, Nebula Research & Development LLC bought a new stake in shares of Sigma Lithium in the second quarter valued at $87,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Stock Up 1.3%

Shares of SGML opened at $14.95 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.14. Sigma Lithium has a one year low of $4.25 and a one year high of $24.48. The company has a market cap of $1.67 billion, a P/E ratio of -38.33 and a beta of 0.64. The firm has a 50 day simple moving average of $16.01 and a two-hundred day simple moving average of $13.15.

Sigma Lithium (NASDAQ:SGMLGet Free Report) last released its earnings results on Friday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 56.56% and a negative net margin of 41.84%.The firm had revenue of $42.34 million for the quarter, compared to analysts’ expectations of $42.48 million. Research analysts forecast that Sigma Lithium will post 0.92 EPS for the current fiscal year.

About Sigma Lithium

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Sigma Lithium (NASDAQ:SGML)

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