Sigma Lithium Corporation (NASDAQ:SGML) Given Average Recommendation of “Strong Sell” by Brokerages

Sigma Lithium Corporation (NASDAQ:SGML) has been given a consensus recommendation of “Strong Sell” by the four ratings firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $13.00.

SGML has been the subject of a number of recent research reports. Zacks Research raised shares of Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Bank of America reissued an “underperform” rating and set a $13.00 price target (up previously from $11.00) on shares of Sigma Lithium in a research report on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sigma Lithium in a report on Monday, December 29th. Finally, Citigroup lowered Sigma Lithium from an “overweight” rating to an “underperform” rating in a report on Thursday.

Institutional Trading of Sigma Lithium

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi bought a new position in shares of Sigma Lithium in the 1st quarter valued at $2,478,000. Goldman Sachs Group Inc. grew its stake in Sigma Lithium by 9.4% in the first quarter. Goldman Sachs Group Inc. now owns 113,299 shares of the company’s stock valued at $1,178,000 after acquiring an additional 9,748 shares during the period. Ascent Group LLC bought a new stake in shares of Sigma Lithium during the first quarter valued at approximately $264,000. Woodline Partners LP lifted its holdings in shares of Sigma Lithium by 65.6% in the 1st quarter. Woodline Partners LP now owns 2,678,444 shares of the company’s stock worth $27,856,000 after purchasing an additional 1,060,771 shares in the last quarter. Finally, Aberdeen Group plc bought a new stake in Sigma Lithium during the 2nd quarter valued at $187,000. Institutional investors own 64.86% of the company’s stock.

Sigma Lithium Price Performance

Sigma Lithium stock opened at $15.66 on Thursday. The company has a market capitalization of $1.74 billion and a price-to-earnings ratio of -50.51. The company has a current ratio of 0.49, a quick ratio of 0.32 and a debt-to-equity ratio of 1.38. Sigma Lithium has a 12 month low of $4.25 and a 12 month high of $16.60. The stock’s 50 day moving average is $10.24 and its 200-day moving average is $7.51.

Sigma Lithium (NASDAQ:SGML) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). The firm had revenue of $28.55 million for the quarter, compared to analysts’ expectations of $70.54 million. Sigma Lithium had a negative return on equity of 35.97% and a negative net margin of 24.13%. Equities research analysts expect that Sigma Lithium will post -0.12 EPS for the current year.

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.