Sigma Lithium Corporation (NASDAQ:SGML) Stock Has Consensus Price Target of $14.30

Sigma Lithium Corporation (NASDAQ:SGML – Get Free Report) has been assigned an average recommendation of “Reduce” from the eight analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $14.30.

SGML has been the topic of several recent analyst reports. ATB Cormark Capital Markets lowered shares of Sigma Lithium from a “moderate buy” rating to a “hold” rating and decreased their price objective for the stock from $19.50 to $13.00 in a report on Friday, October 2nd. Wall Street Zen lowered Sigma Lithium from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research cut Sigma Lithium from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 19th. BMO Capital Markets cut Sigma Lithium from an “outperform” rating to a “market perform” rating and set a $10.00 price target on the stock. in a research note on Thursday, October 1st. Finally, Weiss Ratings lowered Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th.

View Our Latest Stock Report on SGML

Institutional Investors Weigh In On Sigma Lithium

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Sigma Lithium during the second quarter worth $29,727,000. Encompass Capital Advisors LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter valued at $16,463,000. SIR Capital Management L.P. purchased a new position in Sigma Lithium in the second quarter valued at $4,754,000. Ariose Capital Management Ltd purchased a new position in Sigma Lithium in the first quarter valued at $3,826,000. Finally, Handelsbanken Fonder AB grew its stake in Sigma Lithium by 23.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 1,498,133 shares of the company’s stock worth $18,951,000 after purchasing an additional 282,595 shares in the last quarter. Hedge funds and other institutional investors own 64.86% of the company’s stock.

Sigma Lithium Trading Down 2.4%

SGML stock opened at $8.49 on Friday. The business has a fifty day moving average of $10.62 and a two-hundred day moving average of $13.31. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.34 and a quick ratio of 0.25. Sigma Lithium has a 52-week low of $4.61 and a 52-week high of $24.48.

Sigma Lithium (NASDAQ:SGML – Get Free Report) last announced its quarterly earnings results 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 business had revenue of $54.70 million during the quarter, compared to analyst estimates of $68.34 million. Analysts predict that Sigma Lithium will post 0.15 EPS for the current fiscal year.

About Sigma Lithium

(Get Free Report)

Sigma Lithium Corporation is a Canadian mining and development company focused on producing lithium concentrate for the electric vehicle and energy storage industries. Its primary asset is the Grota do Cirilo project in Minas Gerais, Brazil, which includes hard-rock lithium deposits, mining operations and a processing facility.

The company produces lithium concentrate designed for use in lithium-ion batteries. Its processing approach emphasizes the recovery of lithium-bearing material while seeking to reduce the use of hazardous chemicals and minimize environmental impacts.

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Analyst Recommendations for Sigma Lithium (NASDAQ:SGML)

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