Sigma Lithium Corporation (NASDAQ:SGML) Given Consensus Rating of “Hold” by Brokerages

Sigma Lithium Corporation (NASDAQ:SGML) has been given a consensus recommendation of “Hold” by the six brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $17.50.

A number of research firms have issued reports on SGML. BMO Capital Markets reiterated an “outperform” rating and set a $18.00 target price on shares of Sigma Lithium in a report on Wednesday, January 14th. Zacks Research upgraded Sigma Lithium from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Bank of America upgraded Sigma Lithium from an “underperform” rating to a “neutral” rating and set a $14.00 price objective for the company in a report on Tuesday, February 3rd. Citigroup cut Sigma Lithium from an “overweight” rating to an “underperform” rating in a research note on Thursday, January 8th. Finally, Canaccord Genuity Group raised Sigma Lithium from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd.

Institutional Investors Weigh In On Sigma Lithium

Several institutional investors and hedge funds have recently added to or reduced their stakes in SGML. Farther Finance Advisors LLC acquired a new position in shares of Sigma Lithium during the 4th quarter worth about $51,000. GF Fund Management CO. LTD. acquired a new position in Sigma Lithium during the fourth quarter valued at approximately $57,000. BTG Pactual Asset Management US LLC acquired a new position in Sigma Lithium during the third quarter valued at approximately $71,000. Malaga Cove Capital LLC acquired a new position in shares of Sigma Lithium during the 2nd quarter worth approximately $52,000. Finally, Quantbot Technologies LP bought a new stake in shares of Sigma Lithium during the 3rd quarter worth approximately $82,000. 64.86% of the stock is owned by institutional investors.

Sigma Lithium Price Performance

Shares of SGML opened at $12.22 on Monday. The stock has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $8.71. Sigma Lithium has a 52-week low of $4.25 and a 52-week high of $16.87. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.32 and a current ratio of 0.49. The firm has a market capitalization of $1.36 billion and a PE ratio of -39.42.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.10) earnings per share for the quarter, meeting 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. Sell-side analysts predict that Sigma Lithium will post -0.12 EPS for the current fiscal year.

About Sigma Lithium

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.