Sigma Lithium Corporation (NASDAQ:SGML) Given Average Recommendation of “Hold” by Analysts

Sigma Lithium Corporation (NASDAQ:SGML) has received an average recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $18.50.

A number of research analysts have recently commented on the stock. Zacks Research lowered shares of Sigma Lithium from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Wall Street Zen lowered shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut shares of Sigma Lithium from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th.

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $10.73 on Friday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.34 and a quick ratio of 0.25. The company has a market capitalization of $1.21 billion, a P/E ratio of -44.71 and a beta of 0.61. Sigma Lithium has a 1 year low of $4.61 and a 1 year high of $24.48. The business has a fifty day simple moving average of $11.66 and a two-hundred day simple moving average of $13.83.

Sigma Lithium (NASDAQ:SGML) last issued its earnings results on Friday, August 14th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $68.34 million. On average, analysts expect that Sigma Lithium will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC purchased a new position in shares of Sigma Lithium in the 4th quarter worth about $51,000. Deutsche Bank AG purchased a new position in shares of Sigma Lithium during the 4th quarter valued at about $101,000. State of Wyoming bought a new stake in Sigma Lithium in the 2nd quarter worth approximately $109,000. Public Employees Retirement System of Ohio purchased a new stake in Sigma Lithium in the second quarter worth approximately $128,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in Sigma Lithium in the third quarter worth approximately $71,000. Hedge funds and other institutional investors 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.