Sigma Lithium (NASDAQ:SGML) Hits New 52-Week High – Still a Buy?

Sigma Lithium Corporation (NASDAQ:SGML) shares reached a new 52-week high on Monday . The company traded as high as $15.13 and last traded at $14.7370, with a volume of 2109148 shares changing hands. The stock had previously closed at $14.21.

Wall Street Analysts Forecast Growth

SGML has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a research report on Monday, December 29th. Bank of America cut shares of Sigma Lithium from a “buy” rating to a “neutral” rating and set a $7.00 target price for the company. in a research note on Friday, October 24th. Finally, Zacks Research upgraded shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sigma Lithium currently has an average rating of “Reduce” and a consensus price target of $7.00.

Sigma Lithium Trading Down 3.5%

The company has a debt-to-equity ratio of 1.38, a current ratio of 0.49 and a quick ratio of 0.32. The business’s 50-day moving average is $10.24 and its 200 day moving average is $7.51. The firm has a market capitalization of $1.74 billion and a P/E ratio of -50.51.

Sigma Lithium (NASDAQ:SGML) last announced its earnings results on Friday, November 14th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.10). Sigma Lithium had a negative net margin of 24.13% and a negative return on equity of 35.97%. The firm had revenue of $28.55 million for the quarter, compared to analyst estimates of $70.54 million. As a group, analysts anticipate that Sigma Lithium Corporation will post -0.12 EPS for the current fiscal year.

Institutional Trading of Sigma Lithium

A number of institutional investors have recently modified their holdings of SGML. Amundi bought a new position in shares of Sigma Lithium in the first quarter worth $2,478,000. Goldman Sachs Group Inc. grew its stake in Sigma Lithium by 9.4% during the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock worth $1,178,000 after buying an additional 9,748 shares in the last quarter. Ascent Group LLC bought a new position in Sigma Lithium in the 1st quarter valued at about $264,000. Woodline Partners LP increased its holdings in Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock valued at $27,856,000 after buying an additional 1,060,771 shares during the period. Finally, Aberdeen Group plc acquired a new position in shares of Sigma Lithium in the 2nd quarter valued at approximately $187,000. 64.86% of the stock is currently owned by institutional investors.

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.