Sigma Lithium Corporation (NASDAQ:SGML) Given Consensus Rating of “Hold” by Analysts

Shares of Sigma Lithium Corporation (NASDAQ:SGMLGet Free Report) have received a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.50.

Several analysts recently issued reports on SGML shares. Weiss Ratings downgraded shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. Zacks Research downgraded shares of Sigma Lithium from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 19th. Finally, Wall Street Zen lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th.

View Our Latest Research Report on SGML

Institutional Investors Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Sigma Lithium during the 2nd quarter valued at about $29,727,000. Legal & General Group Plc raised its stake in shares of Sigma Lithium by 101.7% in the fourth 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 last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Sigma Lithium in the fourth quarter worth approximately $16,463,000. SIR Capital Management L.P. bought a new position in shares of Sigma Lithium in the second quarter valued at approximately $4,754,000. Finally, Ariose Capital Management Ltd bought a new position in shares of Sigma Lithium in the first quarter valued at approximately $3,826,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

Sigma Lithium Stock Down 6.2%

Shares of NASDAQ:SGML opened at $8.91 on Tuesday. The business’s 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $13.72. The firm has a market cap of $1.00 billion, a P/E ratio of -37.12 and a beta of 0.64. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. Sigma Lithium has a 52-week low of $4.61 and a 52-week high of $24.48.

Sigma Lithium (NASDAQ:SGMLGet Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.25). Sigma Lithium had a negative net margin of 19.36% and a negative return on equity of 37.40%. The firm had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. As a group, research analysts forecast that Sigma Lithium will post 0.45 EPS for the current fiscal year.

About Sigma Lithium

(Get Free Report)

Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.

Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.

Further Reading

Analyst Recommendations for Sigma Lithium (NASDAQ:SGML)

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