Sigma Lithium (NASDAQ:SGML) Rating Increased to Strong-Buy at Zacks Research

Sigma Lithium (NASDAQ:SGML) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

SGML has been the subject of a number of other research reports. Bank of America raised shares of Sigma Lithium from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Wall Street Zen raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Canaccord Genuity Group raised shares of Sigma Lithium from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Sigma Lithium has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Sigma Lithium Price Performance

SGML opened at $14.88 on Thursday. The company has a fifty day moving average price of $16.16 and a two-hundred day moving average price of $13.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.14 and a current ratio of 0.32. Sigma Lithium has a 52 week low of $4.25 and a 52 week high of $24.48. The firm has a market capitalization of $1.66 billion, a PE ratio of -38.15 and a beta of 0.64.

Sigma Lithium (NASDAQ:SGML) last released its earnings results on Friday, May 15th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative net margin of 41.84% and a negative return on equity of 57.50%. The firm had revenue of $42.34 million during the quarter, compared to analyst estimates of $42.48 million. As a group, analysts anticipate that Sigma Lithium will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently made changes to their positions in SGML. Farther Finance Advisors LLC acquired a new position in shares of Sigma Lithium in the 4th quarter valued at $51,000. GF Fund Management CO. LTD. acquired a new position in shares of Sigma Lithium in the 4th quarter valued at $57,000. BTG Pactual Asset Management US LLC acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at $71,000. Quantbot Technologies LP acquired a new position in shares of Sigma Lithium in the 3rd quarter valued at $82,000. Finally, Nebula Research & Development LLC acquired a new position in shares of Sigma Lithium in the 2nd quarter valued at $87,000. Institutional investors and hedge funds own 64.86% of the company’s stock.

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.