Sigma Lithium Corporation (NASDAQ:SGML) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analyst sentiment is evenly split: Three analysts rate Sigma Lithium a “sell” and three rate it a “buy,” resulting in a consensus “Hold” rating. The average 12-month price target is $18.50.
• Recent quarterly results missed expectations: Sigma Lithium reported an adjusted loss of $0.02 per share versus the $0.23 expected, while revenue of $54.7 million fell short of the $68.34 million estimate.
• Institutional ownership remains significant: Institutional investors own 64.86% of the company, with several funds recently increasing positions or initiating new stakes.

Shares of Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) have received an average rating of "Hold" from the six brokerages that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

Several equities analysts recently issued reports on SGML shares. Wall Street Zen lowered shares of Sigma Lithium from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings downgraded Sigma Lithium from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, August 13th. Finally, Zacks Research downgraded Sigma Lithium from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 19th.

Sigma Lithium Stock Performance

NASDAQ:SGML opened at $8.91 on Tuesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.25 and a current ratio of 0.34. Sigma Lithium has a fifty-two week low of $4.61 and a fifty-two week high of $24.48. The company has a 50 day simple moving average of $11.14 and a two-hundred day simple moving average of $13.72. The company has a market capitalization of $1.00 billion, a PE ratio of -37.12 and a beta of 0.64.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last issued its quarterly 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 return on equity of 37.40% and a negative net margin of 19.36%.The firm had revenue of $54.70 million during the quarter, compared to analyst estimates of $68.34 million. Research analysts anticipate that Sigma Lithium will post 0.45 earnings per share for the current year.

Institutional Investors Weigh In On Sigma Lithium

A number of hedge funds have recently added to or reduced their stakes in SGML. Banque Cantonale Vaudoise lifted its position in shares of Sigma Lithium by 6.8% during the 1st quarter. Banque Cantonale Vaudoise now owns 55,143 shares of the company's stock valued at $679,000 after acquiring an additional 3,489 shares during the period. TD Waterhouse Canada Inc. grew its holdings in Sigma Lithium by 21.8% in the second quarter. TD Waterhouse Canada Inc. now owns 24,605 shares of the company's stock worth $306,000 after purchasing an additional 4,412 shares during the period. State of Wyoming acquired a new stake in Sigma Lithium in the second quarter worth $109,000. Deutsche Bank AG bought a new stake in Sigma Lithium in the second quarter valued at $116,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Sigma Lithium in the second quarter valued at $128,000. 64.86% of the stock is currently owned by institutional investors.

Sigma Lithium Company Profile

Sigma Lithium Corporation is a Canadian mining and technology company focused on the exploration, development, and production of lithium products for the electric vehicle and energy storage industries. Its principal operations are located in Brazil, where the company is developing and operating the Grota do Cirilo lithium project in the state of Minas Gerais.

Grota do Cirilo produces battery-grade lithium spodumene concentrate, a key raw material used to manufacture lithium-ion batteries.

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