50,000 Shares in Sigma Lithium Corporation $SGML Bought by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD bought a new position in Sigma Lithium Corporation (NASDAQ:SGML) during the fourth quarter, Holdings Channel reports. The fund bought 50,000 shares of the company’s stock, valued at approximately $660,000.

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of Sigma Lithium by 15.9% in the second quarter. BNP Paribas Financial Markets now owns 21,897 shares of the company’s stock worth $99,000 after buying an additional 3,005 shares during the period. Farther Finance Advisors LLC acquired a new stake in shares of Sigma Lithium in the fourth quarter worth $51,000. Virtu Financial LLC boosted its position in shares of Sigma Lithium by 26.6% in the third quarter. Virtu Financial LLC now owns 20,053 shares of the company’s stock worth $129,000 after buying an additional 4,210 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Sigma Lithium in the fourth quarter worth $57,000. Finally, Millennium Management LLC boosted its position in shares of Sigma Lithium by 6.4% in the third quarter. Millennium Management LLC now owns 81,543 shares of the company’s stock worth $520,000 after buying an additional 4,909 shares during the period. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on SGML shares. Bank of America upgraded shares of Sigma Lithium from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $17.00 in a report on Thursday, April 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of Sigma Lithium in a report on Friday, March 27th. Zacks Research upgraded shares of Sigma Lithium from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 21st. Finally, Wall Street Zen cut shares of Sigma Lithium from a “buy” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Sigma Lithium has an average rating of “Moderate Buy” and an average target price of $18.50.

Sigma Lithium Price Performance

SGML opened at $15.98 on Friday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -40.97 and a beta of 0.54. Sigma Lithium Corporation has a 1 year low of $4.25 and a 1 year high of $24.48. The company has a current ratio of 0.32, a quick ratio of 0.25 and a debt-to-equity ratio of 0.21. The stock has a fifty day moving average price of $17.40 and a 200 day moving average price of $14.16.

Sigma Lithium (NASDAQ:SGML) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Sigma Lithium had a negative return on equity of 57.50% and a negative net margin of 41.84%.The company had revenue of $42.34 million during the quarter, compared to analysts’ expectations of $42.48 million. Analysts forecast that Sigma Lithium Corporation will post 1.15 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.