Sigma Lithium Corporation (NASDAQ:SGML) Stock Has Consensus Price Target of $14.30

Key Points

• Analysts have a consensus “Reduce” rating on Sigma Lithium, with three sell, three hold and two buy recommendations. The average 12-month price target is $14.30, though several firms recently downgraded the stock and lowered their targets.
• Shares opened at $9.35, down 2.2%, compared with a 52-week range of $4.61 to $24.48. The stock trades below both its 50-day and 200-day moving averages.
• Sigma Lithium reported a quarterly loss of $0.02 per share and revenue of $54.70 million, missing analyst expectations for $0.23 EPS and $68.34 million in revenue. Institutional investors own approximately 64.86% of the company.

Shares of Sigma Lithium Corporation (NASDAQ:SGML - Get Free Report) have earned a consensus recommendation of "Reduce" from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.30.

SGML has been the topic of a number of analyst reports. Weiss Ratings cut Sigma Lithium from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Thursday, August 13th. ATB Cormark Capital Markets lowered Sigma Lithium from a "moderate buy" rating to a "hold" rating and reduced their price objective for the company from $19.50 to $13.00 in a research report on Friday, October 2nd. Wall Street Zen lowered Sigma Lithium from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. BMO Capital Markets cut Sigma Lithium from an "outperform" rating to a "market perform" rating and set a $10.00 price objective for the company. in a research note on Thursday, October 1st. Finally, JPMorgan Chase & Co. downgraded Sigma Lithium from an "overweight" rating to a "neutral" rating and set a $11.00 target price on the stock. in a report on Friday, October 2nd.

Hedge Funds Weigh In On Sigma Lithium

Several large investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in Sigma Lithium during the 2nd quarter valued at about $109,000. Deutsche Bank AG purchased a new position in Sigma Lithium in the second quarter worth about $116,000. Public Employees Retirement System of Ohio purchased a new position in Sigma Lithium in the second quarter worth about $128,000. Wellington Management Group LLP bought a new position in shares of Sigma Lithium in the second quarter worth approximately $286,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Sigma Lithium during the fourth quarter valued at approximately $298,000. Hedge funds and other institutional investors own 64.86% of the company's stock.

Sigma Lithium Stock Down 2.2%

Shares of Sigma Lithium stock opened at $9.35 on Friday. Sigma Lithium has a 1 year low of $4.61 and a 1 year high of $24.48. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -38.96 and a beta of 0.67. The company has a 50-day moving average of $10.74 and a 200 day moving average of $13.32. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.34 and a quick ratio of 0.25.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.23 by ($0.25). The business had revenue of $54.70 million for the quarter, compared to the consensus estimate of $68.34 million. Sigma Lithium had a negative return on equity of 37.40% and a negative net margin of 19.36%. As a group, sell-side analysts anticipate that Sigma Lithium will post 0.27 earnings per share for the current fiscal year.

About Sigma Lithium

Sigma Lithium Corporation is a Canadian mining and development company focused on producing lithium concentrate for the electric vehicle and energy storage industries. Its primary asset is the Grota do Cirilo project in Minas Gerais, Brazil, which includes hard-rock lithium deposits, mining operations and a processing facility.

The company produces lithium concentrate designed for use in lithium-ion batteries. Its processing approach emphasizes the recovery of lithium-bearing material while seeking to reduce the use of hazardous chemicals and minimize environmental impacts.

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