American Century Companies Inc. Acquires 48,381 Shares of Sigma Lithium Corporation $SGML

Key Points

• American Century Companies Inc. increased its holdings in Sigma Lithium by 133.1%, acquiring an additional 48,381 shares, bringing their total ownership to 84,723 shares.
• Institutional investors and hedge funds own 64.86% of Sigma Lithium, with notable increases from firms like Woodline Partners, Sourcerock Group, and Point72 Asset Management.
• Sigma Lithium reported a loss of ($0.17) EPS, significantly missing analysts' expectations, while the stock has an average rating of "Buy" with a target price of $12.00.

American Century Companies Inc. lifted its stake in shares of Sigma Lithium Corporation (NASDAQ:SGML - Free Report) by 133.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,723 shares of the company's stock after purchasing an additional 48,381 shares during the quarter. American Century Companies Inc. owned about 0.08% of Sigma Lithium worth $881,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in SGML. Teacher Retirement System of Texas acquired a new position in Sigma Lithium during the 1st quarter worth approximately $109,000. GAMMA Investing LLC acquired a new position in shares of Sigma Lithium during the first quarter worth approximately $139,000. Squarepoint Ops LLC acquired a new position in shares of Sigma Lithium during the fourth quarter worth approximately $150,000. BNP Paribas Financial Markets acquired a new stake in Sigma Lithium in the 4th quarter valued at $185,000. Finally, Inscription Capital LLC bought a new stake in Sigma Lithium during the 1st quarter valued at $208,000. 64.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cormark raised shares of Sigma Lithium to a "moderate buy" rating in a research note on Thursday, August 21st. Bank of America assumed coverage on shares of Sigma Lithium in a report on Tuesday, August 26th. They issued a "buy" rating and a $12.00 target price on the stock. Finally, Wall Street Zen downgraded Sigma Lithium from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $12.00.

Sigma Lithium Stock Down 5.7%

SGML traded down $0.33 during mid-day trading on Wednesday, reaching $5.48. 2,527,098 shares of the stock were exchanged, compared to its average volume of 2,802,912. Sigma Lithium Corporation has a 1 year low of $4.25 and a 1 year high of $15.56. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.39 and a current ratio of 0.60. The stock has a market capitalization of $609.98 million, a PE ratio of -12.45 and a beta of 0.09. The company has a 50 day moving average price of $6.02 and a two-hundred day moving average price of $7.25.

Sigma Lithium (NASDAQ:SGML - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.14). Sigma Lithium had a negative net margin of 35.69% and a negative return on equity of 47.19%. The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $50.44 million. As a group, research analysts anticipate that Sigma Lithium Corporation will post -0.12 EPS for the current year.

Sigma Lithium Company Profile

Sigma Lithium Corporation engages in the exploration and development of lithium deposits in Brazil. It holds a 100% interest in the Grota do Cirilo, Genipapo, Santa Clara, and São José properties comprising 29 mineral rights covering an area of approximately 185 square kilometers located in the Araçuaí and Itinga regions of the state of Minas Gerais, Brazil.