Amundi Purchases New Holdings in Sigma Lithium Corporation $SGML

Key Points

• Amundi has invested approximately $2.48 million in Sigma Lithium Corporation by acquiring 238,234 shares, which represents about 0.21% of the company.
• Despite significant investments from various institutional investors, including a 349.0% increase in stake by Point72 Asset Management, Sigma Lithium's stock shows mixed analyst ratings.
• The company reported a quarterly loss of ($0.17) EPS, falling short of the expected ($0.03), with revenues also significantly below analyst estimates.

Amundi purchased a new stake in Sigma Lithium Corporation (NASDAQ:SGML - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 238,234 shares of the company's stock, valued at approximately $2,478,000. Amundi owned 0.21% of Sigma Lithium as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Appian Way Asset Management LP lifted its position in shares of Sigma Lithium by 5.3% during the 1st quarter. Appian Way Asset Management LP now owns 4,963,006 shares of the company's stock valued at $51,615,000 after acquiring an additional 250,581 shares during the period. Woodline Partners LP raised its holdings in shares of Sigma Lithium by 113.5% during the fourth quarter. Woodline Partners LP now owns 1,617,673 shares of the company's stock valued at $18,150,000 after purchasing an additional 859,924 shares during the period. Sourcerock Group LLC raised its holdings in shares of Sigma Lithium by 46.0% during the fourth quarter. Sourcerock Group LLC now owns 1,387,222 shares of the company's stock valued at $15,565,000 after purchasing an additional 437,010 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Sigma Lithium by 1.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,254,882 shares of the company's stock worth $14,127,000 after buying an additional 22,828 shares during the period. Finally, Decade Renewable Partners LP raised its stake in Sigma Lithium by 2.4% during the 1st quarter. Decade Renewable Partners LP now owns 882,621 shares of the company's stock worth $9,179,000 after buying an additional 20,760 shares during the period. Institutional investors and hedge funds own 64.86% of the company's stock.

Sigma Lithium Stock Down 1.5%

Shares of Sigma Lithium stock traded down $0.09 on Wednesday, hitting $5.81. The company had a trading volume of 1,597,347 shares, compared to its average volume of 2,133,856. The stock has a market capitalization of $646.71 million, a price-to-earnings ratio of -13.20 and a beta of 0.09. The stock has a 50 day moving average of $6.05 and a 200-day moving average of $7.05. 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.

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

Analysts Set New Price Targets

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

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.